2merkato

The International Rose Producer Karuturi Global Ltd. is set to construct embankments around its farm in Western Ethiopia after incurring 15 million dollars worth of losses due to floods. The loss was primarily caused by the destruction of maize plants, with a potential yield of 60,000 tonnes according to Ramakrishna Karuturi, General Manager of the company.

Karuturi announced on Monday that the farmland was flooded in spite of dikes spanning 80km on the side that faces the riverbank. The 1.8 meter tall dikes proved to be inadequate to prevent the flooding Karturi explained.

The company reported plans to build taller dikes around the farm. The new design will aim to create a polder; land enclosed by dykes with no connection with outside water except through manually operated devices.

Zablon Trading Private Limited Company opened a processing plant for oilseed and pulses on 1 October 2011.  The plant is expected to clean and sort over 1,200 quintals of export standard oil seeds and pulses every year.

The company has exported oil seeds and pulses valued at approximately 5 million dollars, last year and is planning to raise its exports to 25 million this year said Biniam Bedewi Owner and Managing director of Zablon.  He said that they hope to achieve this through developing human resource and creating stronger links with local banks.

National Oil Ethiopia Plc (NOC) is exploring the launch of operations in the East African Nations of Southern Sudan and Djibouti. NOC will install fuel stations and depots to provide complete oil retailing services in these countries, once a final decision has been made.

“We have only a plan and we are only exploring business opportunities in these countries. We are not sure whether we will be entering these markets or not” said Tadesse Tilahun, CEO and shareholder of NOC. The CEO explained that NOC is just investigating business opportunities in neighboring countries and has not made a final decision to enter the regional markets.

Some of the machinery ordered by the Ethiopian government for the building of the Renaissance Dam started arriving in Port Djibouti. The machines that arrived at Port of Djibouti and are ready for transport were imported primarily from the United States and Italy.

A couple of US made Caterpillar family trucks, (990) at a cost of 1.5 million dollars each and Italian Astra machinery (including RD 40 and RD 50) at a cost of 250,00 euros each are currently at Port Djibouti awaiting transport to the project site. The imported machinery consists of bulldozers, dumpers, rollers, graders as well as other heavy duty machines to be utilized in the construction of the Dam said Mr. Pierre Kothari, Agent for Salini Contractors in Djibouti, on Wednesday.