2merkato

The Land Bank and City Renovation Project Office of the Ethiopian Capital Addis Ababa is to split into independent agencies to implement the new land lease proclamation.

Implementing the proclamation will be the primary task of the Land Bank and Transfer Agency which will be officially formed in three months time.

The new agency will be in charge of handling auctions and arrange plots for development under its land bank system and transfer to investors as well as collecting lease payments and controlling the launch of construction activities according to lease agreements.

Ethiopia is to launch a petroleum development enterprise which will facilitate the development of the natural gas reserves discovered in the Ogaden Basin.

Decision to set up the enterprise was reached after the failure of several attempts to develop the natural gas reserves in the region by granting petroleum development licenses according to a senior official with the Ministry of Miners.

The petroleum development enterprise will offer an opportunity for a joint venture with a reputable international oil and gas company explained the official.

The first of the ten Boeing B787-8 Dreamliner aircraft ordered by Ethiopian Airlines is expected to arrive in Addis Ababa later on this week.

Ethiopian Airlines pilots and technicians are trained and ready to operate the new aircraft which will arrive in Ethiopia on the 17th of August said Tewolde Gebremariam, Chief Executive of the Airline. Technicians are also being sent for further practical training to ANA he said.

Ethiopian is organizing a ‘Dream Tour’ to Kilimanjaro on August 18th for VIPS, members of the media and business people will be taken on a sightseeing tour of Africa’s highest peak said Tewolde.

78 Thousand Metric tons of cotton were produced in Ethiopia in the last financial year according to the Ministry of Agriculture.

The amount of cotton produced in the just ended fiscal year was significantly more than the 18 thousand metric tons produced in the previous financial year said Isayas Kebede, Director of Agriculture Investment Support and Monitoring with the ministry.

More than 90 percent of the 71 thousand hectares of land provided for investors in the fiscal year was given to investors engaged in cotton production, which has been a foundation for the development of the textile sector in the country he said.