2merkato

Ethiopia's Nib Bank, together with its sister company, Nib Insurance has awarded China Railway Engineering Group for construction of a 35 storey headquarters building.  
China Railway Engineering Group is already involved in several projects in Ethiopia, prominently the Ethio-Djibouti railway construction project.

The Ethiopian Privatization and Public Enterprises Agency is planning to transfer 20 state owned enterprises to the private sector in the current Ethiopian Fiscal Year, Fortune reported.

The Agency is re-tendering Ghion Hotel, Agricultural Mechanization Services Enterprise, Transport Construction Design S.C, Artistic Printing Enterprise, and Weyra Transport S.C.

Ethiopia's Awash Wine S.C announced that it has made over 90 million Ethiopian birr profit before tax in the concluded fiscal year. Rezene Hailu CEO of Awash Wine S.C made the announcement during the company's annual employees day.

Rezene said on the occasion that the company has earned 90.84 million birr profit before tax from the 6.4 million liters of wine produced in the budget year. The company’s profit before tax was only 1.5 million birr 15 years ago, he noted.

The Ethiopian Ministry of Mines and Energy said, over 8.6 million liters of ethanol has been blended with gasoline and supplied to local market over the concluded Ethiopian Fiscal Year.

Public relation and communication Director with the Ministry, Bizuneh Tolcha told Ethiopian News Agency that supply of increasing amount of ethanol blended gasoline has enabled the country to save US$7.6 million.