Alliance Transport Service S.C, Ethiopia signed an agreement for the import of 50 buses with Chinese manufacturer Xiamen King Long Automotive Industry. The deal was agreed for 72 million birr.
The agreement stipulated that parts of the pass including the engine will come from British company Kemens Engine with Xiamen handling the bodywork and assembly of the buses.
The buses, expected to arrive in three months, will have the capacity to seat up to 100 people offering modern conveniences and comfort to travelers according to officials from Alliance.
The import cost of the buses was funded through a loan from a local financier according to sources although officials from Alliance declined to corroborate.Alliance has plans to import more buses in the near future according to the sources.
Alliance Transport Service was founded by 2000 shareholders collecting 36 million birr from the sell of shares. It is expected that the company will offer a second round of shares to the public to enhance its capacity and services explained company officials.
Alliance also has plans to construct modern parking lots in different parts of Addis Ababa as part of its investment targets.
Source: Capital
