2merkato

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.

The Council of Ministers endorsed last Friday the formation of the Ethiopian Shipping & Logistics Enterprise (ESLE).

The enterprise is an amalgamation of Ethiopian Shipping Lines (ESL), Ethiopian Maritime Transit Services (EMTS) and Dry Port Service Enterprise (DPSE).

The initial proposal for the company to be a corporation was abandoned. It is to be formed as a state enterprise instead.

A delegation from the government and the Ethiopian Electric Power Corporation (EEPCO) is scheduled to sign an official and binding agreement with Djibouti tomorrow for the export of electricity.

Ethiopia was exporting electricity to Djibouti on a trial basis for the last four months charging Djibouti 0.70 dollars a kilowatt.

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.