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Polish Sugar Producer Eyeing Investment in Ethiopia

polskiKrajewa Spolka Cukrowa, a polish sugar manufacturer is eyeing investment opportunities in Ethiopia. The company is interested to build a raw sugar refinery in Ethiopia, Capital reported.

The major shareholder of Krajewa Spolka Cukrowa is the government of Poland with 79.7 percent ownership. The company is the largest sugar producer in Poland supplying 39.1 percent of the country’s sugar demand. However, its supply to the European Union is 4.1 percent.

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Ethiopia: Oromia International Bank Acquired SA Building for its HQ

oibEthiopia's Oromia International Bank has acquired the 13-storey SA building located on Africa Avenue, Bole Road. The Bank bough the building for 210 million Ethiopian birr in June 2013.

SA building, inaugurated in 2006, lies on 1,192 square meter lot and its construction was estimated to have costed 50 million, according to Fortune.

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Ethiopian Trade Enterprise to Open 3 wholesale Stores in November

The Ethiopian Trade Enterprise is to open three wholesale stores in Addis Ababa, Fortune reported. The stores will be constructed in Nifas Silk Lafto and Akaki Kality sub-cities and the third store will be located on a property belonging to the Merchandise Wholesale & Import Trade Enterprise in Addis Ketema sub-city.

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AFDB to Approve Loan Request for Mojo-Zeway Expressway Project

afdb2The African Development Bank is to approve a USD 130 million loan request for the construction of a 120 KM long expressway spanning from Mojo to Zeway.

Lamin Barrow, resident representative of the banks Ethiopia country office, told The Reporter in an exclusive interview that the Bank will finance construction of the road’s first phase, with the board of directors set to approve the loan in October.

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Icelandic Company to Develop Geothermal Power in Ethiopia

RGReykjavik Geothermal, the Icelandic geothermal development company has agreed to develop as much as 1,000 megawatts of geothermal projects in Ethiopia over the next 10 years, according to Bloomberg.

Reykjavik expects to start drilling test wells next year, Chairman Michael Philipp told Bloomberg in an interview on September 27, in New York.

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