2merkato

The Ethiopian Roads Authority said it has planned to construct and renovate close to 20,700 km new and existing roads at a cost of 28.9 billion Ethiopian birr during the current Ethiopian Fiscal Year.

Lebu-Goro, DireDawa-Dewele, Lumame-Debre Markos, Gedo-Menebegna, Ambo-Woliso, Konso-Yabelo, Debrebirhan-Ankober, Ankober-Dulecha and Dulecha-Awash are among the new roads which the Authority plans to construct this year.

The Commercial Bank of Ethiopia (CBE) is to provide over 1.6 billion Ethiopian birr in loans to Hiber Sugar Factory S.C., Capital reported citing the announcement made by the management of Hiber.

The Bank will provide 70 percent of the 2.3 billion birr project.

Bamboo Star Agri Forest Industry, a factory that produce wood products from bamboo, has commenced operation in the Benishangul Gumuz Regional state of Ethiopia.

The factory produces wooden items such as tooth picks and kitchen wares from bamboo. Owner and General Manager of Bamboo Star, Michael Gebru told Capital, the company is planning to expand its product line. He said feasibility study for plywood factory with an investment cost of 20 million Ethiopian birr is already underway.

The Turkish Confederation of Businessmen and Industrialists (TUSKON), Pan African Chamber of Commerce and Industry (PACCI) discussed Turkey-Africa trade and investment opportunities in Addis Ababa, Ethiopia on August 13, 2013 at Hilton Addis.

The meeting discussed about ways to strengthn Turkish-African business and investment ties. Noting the conductive investment climate in Ethiopia, TUSKON President Rizanur Meral said, Turkish investors are have interest in engaging in garment, food processing and mining sectors in Ethiopia.