2merkato

Representatives of the Dubai Chamber of Commerce and Industry are scheduled to visit Ethiopia in November.

The visit is due to a country focus presentation that members of the Ethiopian Chamber of Commerce and Sectoral Associations had made late in June to 150 companies in Dubai on the investment opportunities and promotion available in Ethiopia. 

The Ethiopia-Djibouti electric power transmission was launched yesterday in Djibouti in the presence of Meles Zenawi, prime minister of Ethiopia and Omar Guelleh, president of Djibouti.

The project is estimated to meet 75 percent of Djibouti’s power demad.

The 65 million dollar project, largely financed by the African Development Bank (AfDB), aims to raise access to electricity in Djibouti to 60 percent by 2015 which was 49.5 percent in 2003.

The Privatization and Public Supervising Agency (PPESA) was scheduled to hand over the management of Tepi Coffee Plantation to Green Coffee Agro Industry Plc on 3 October 2011 after the latter bought 51 percent of the shares in the plantation.

Green Plc had paid 111.3 million, 25percent of the shares it bought, two months ago.  The 10,000 hectare plantation rests in two regional states, with 32 percent in the Gambella Regional State and the rest in Southern Nations Nationalities Regional State.

The Development Bank of Ethiopia (DBE) said that it was evaluating a 2.1 billion birr financing request from SAYGIM - BM Capital Technology Group, a Turkish company which is planning to manufacture fibre optics.

SAYGIM - BM Capital Technology Group is planning to relocate machinery from Turkey to a plot it has acquired in Sebeta, 35km west of Addis Ababa.

Besides fibre optics, the company is planning to manufacture cables for household use and electric transmission lines according to the business proposal it submitted to the bank.