2merkato

The rules of formation for the Ethiopian Shipping and Logistics Services Enterprise were made public last week.  The set up capital for the enterprise was established at 3.7 billion birr.

The rules of formation show the enterprise to be a government development corporation as well as establishing the rights, responsibilities and regulations of the company.

The enterprise is expected to offer shipping services, stevedoring and shore handling services for import and export purposes, multi modal transport, dry port and warehousing, freight forwarding and clearing amongst other logistical services according to the rules of formation.

The China-Africa Overseas Leather Factory, Ethiopia announced that Chinese tariff free policy for exports from least developed countries is a benefit.

The tariff free policy allows products to be competitive in the international market according to Yacob Tadesse, Administrative Manager of China-Africa Overseas Leather Factory.

The policy also encourages other investors to come to Ethiopia to invest because of the advantages it provides to export to China he explained.

The Ethiopian Airports Enterprise announced plans to expand the apron capacity of Bole International Airport. The project is expected to cost an estimated 1.1 million birr.

The first phase of this project will be finalized this December according to Wondim Teklu, Public Relations Head of the Ethiopian Airports Enterprise.

Castel Winery has begun production in Ethiopia. The winery was established in Oromia Regional State at a cost of 300 million birr.

The Winery will have the capacity of to produce more than 500,000 bottles of wine in six months according to Fithanegast Aynalem, General Manger of the Winery.

Castel aims to double the foreign exchange being earned by the wine sector in Ethiopia by exporting more than a million bottles of wine to Europe, Eastern and Southern Africa and the United States.