2merkato

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.

The plan to build a new international airport proposed by the Ethiopian Airports Enterprise has been given the green light by Prime Minister Hailemariam Desalegn.

It is expected that the Ministry of Transport will table the proposal to the Council of Ministers for its endorsement to be forwarded to the Parliament according to an official with the administration. It is expected that the project will be financed by a loan from the Chinese EXIM Bank he added.  

The Airports Enterprise has been conducting a study on the launch of a new international airport for the past two years.
he Ethiopian Airports Enterprise announced that it expects to raise more than one billion birr from the various services that it renders in the new budget year.

The Addis Ababa (Ethiopia) Roads Authority awarded three more projects to contractors. The contractors selected for the road construction project are the Chinese Road and Bridge Corporation, Gebrehiwot Ekubemariam Construction and Satcon Construction.

The projects are estimated to be worth a total of 847 million birr.

The tender issued by the authority in June had attracted 17 bidders from which pool the three companies were selected.

Salini Construction Spa has expressed interest in constructing the headquarters of the Commercial Bank of Ethiopia.

The Italian construction company responded to a call for interest in the design and construction of the 52 storey building. Twenty other international bidders also expressed interest in the project.

In 2009 Commercial Bank awarded the design to Universal Consultants partnering with Henn Architekten a German company. Various challenges resulted in this deal failing to materialize.

Three months ago the bank issued another invitation for consultancy services to handle the design modification and supervision.

Sebastopol Entertainment PLC is planning to build a a two-tower, four-story multiplex in Arada District.
Sebastopol has acquired a plot of land from the city administration for the construction of the towers for seven million Birr.

Sebastopol has paid 30pc of the total lease price as a down payment when it acquired the land in February, according to Tewodros Teshome, manager of Sebastopol Entertainment. Sebastopl hired Chartered Structural Consulting Engineers (CSC) PLC for the design of the buildings for 310,000Br. The construction of the tower is estimated to cost 50 million Br and construction will begin in June 2013.