2merkato

Awash International Bank, Ethiopia is inaugurate an eight floor structure to house its main branch in Adama.

The new building lies on 1020 m2 with two basements. The construction took 53 million birr and four years to finalize and will be inaugurated in early June according to Abebe Dheressa, Planning and Business Development Manager with Awash.

The bank already has two branches Adama. Awash planned to construct a five storey building on the land it leased from the city. The bank paid 376,640 birr in compensation to residents who had inhabited the residential units that had been on the plot previously, and administered by the Agency for Government housing.

Addis Prefabricated Housing Manufacturing Industries SC, Ethiopia has sold 31.4 million birr in shares in just the three months exceeding its target capital goal of 29 million birr. The share company floated 29,000 ordinary shares at a value of 1,000 birr since the 16th of February and has attracted 773 investors so far.

The company extended the deadline it had set for selling shares from April 16th to the 20th of May following the demand seen on the market claimed Gezahegn Yayinshet, Chairman of the Board.  

The minimum share allotment for one investor is 25 and the maximum 500 shares. A 10% service charge is levied on investors and they are expected to pay 60% of total investment on subscription a further 20% is due three months after the general assembly and the final 20% will be paid another three months after the second allotment is paid.

Guangdong Chuanhui Group, a Chinese company, is expecting final approval to take charge of 41,000m2 to construct a 58 Storey five star hotel in Ethiopia's capital, Addis Ababa.

The building is expected to be one of the five tallest buildings in Africa.

GCG submitted a request for land for the project two years ago one of five proposals from domestic and international investors according to the city administration.

Eyob Girma Consulting and Architects secured the design for the 13 Storey building for Africa Insurance Company, Ethiopia. The consultants competed against four other finalists to win the bid to draw up the plans and 50,000 birr.

The Insurance company expects to invite bids for the construction of the building in the next Ethiopian fiscal year which will begin in July according to Kiros Jiranie, CEO of Africa Insurance.

Negotiations will be launched with the architects in the coming weeks for a fully detailed proposal and consultancy of the building project he said. The Insurance company has finalized negotiations for a 600 m2  piece of land from the administration of Addis Ababa.

Ultimate Plan Private Limited Company and UK firm Aedas won the bid for an architectural design re-tender for the mega conference hall for the Ethiopian Orthodox Church.

The conference hall, with an expected capacity of 13,000 seats, will be constructed at the Ethiopian Orthodox Church Patriarch’s palace in Arada district. The hall is planned to be powered by solar energy and will host outside facilities such as access roads, footpaths and landscaping.

Flintstone Engineering, Ethiopia is to construct light industry shops furnished with all necessary machinery and equipment for sale.The shops are to be constructed for the manufacture of accessories, printing, leather, apparel and printing.

The shops will be built on land it has leased from the Addis Ababa City Administration.

Flintstone plans to construct 300 manufacturing shops in the first phase of the project with each unit ranging from 10m2 to 40 m2 explained Tsedeke Yihune, Founder and Chief Executive of Flintstone.

The Bank of Abyssinia, Ethiopia signed a contract with Universal Consultants for the design and contract supervision of the construction of its headquarters building last week.

The bank has requested that the consultants make changes to the original design which won the architectural design competition held a year ago.

An agreement between the two parties was reached after long and exacting negotiations according to the President of Abyssinia.

The Tendaho Drinking Water Supply Project, Ethiopia is 90% complete according to Kumelachew Abebe, Communications and Public Relations Process Owner with the Ethiopian Water Works Construction Enterprise.

The project is expected to take 97 million birr and will be utilized by the nomadic Afar peoples and the employees of the Tendaho Sugar Development project, a total of almost 70,000 people in the area around the project.

The Tendaho Dam and Irrigation Project management buildings, also being constructed by the EWWCE, are also 90% complete at an estimated cost of 200 million birr said Kumelachew.

The Board of Directors of the Addis Ababa Chamber of Commerce and Sectoral Association is to request land from the city administration of the Ethiopia's capital to construct its headquarters reported sources.

The board of the AACCSA reached the decision to build its own headquarters three months after the resolution between it and the national chamber over the ownership of the seven-storey building housing both chambers.

The leaders of both chambers decided that the building will be owned by the national chamber with the AACCSA making using of two floors free of charge.

The Metal Engineering Corporation has issued an invitation to all Grade one licensed contractors in Ethiopia to participate in its projects according to sources.

Seven companies of a total of 44, who presented their company profiles in response to the invitation, were selected.

The seven companies include Sunshine Construction plc, Tekleberhan Ambaye Construction plc and Sur Construction plc. The companies will form a consortium to consult the Corporation on its construction processes.