2merkato

Ethiopian Roads Authority (ERA) concluded 5.7 billion Birr agreement for the upgrade and administration of Neqemte – Bure Road of Ethiopia.

The agreement is concluded for the upgrade of the 257 kilometers gravel road to asphalt road. The agreement also includes administering and maintaining the road once the upgrade is done.

The World Bank inked 33 million USD loan with Ethiopia.

The loan agreement was signed by Ahmed Shide, State Minister of Finance and Economic Cooperation, on Ethiopia’s part and Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan, on the bank’s behalf.

Memorandum of Understanding is signed between Ethiopia and China to start the construction of Adama Equipment Manufacturing Industrial Park.

The MoU was signed when Dr. Arkebe Equbay, Special Adviser to the Prime Minister, visited Hunan Province in China leading a delegation team.

Ethiopia’s capital Addis Ababa is going to build bus rapid transit line for the first time in history. The Addis Ababa Road and Transport Bureau concluded an agreement with 3 contractors that will design the work and construct the lines.

The Bureau contracted with SAFEGE SA, French company and two local contractors.

New corporation dubbed Ethiopian Agricultural Works Corporation was established with a capital of 2.4 billion Birr.

The corporation was established after joining five enterprises; Ethiopian Seed, Natural Gum Processing and Marketing, Agricultural Inputs Supply, Agricultural Mechanization Service and Agricultural Equipment and Technical Service enterprises.

Kefyalew Berhanu, Chief Executive Officer of the Corporation, said establishing the Corporation had important contribution to modernize the agricultural sector.

Source: Fana Broadcasting Corporate

Omani Products Exhibition (OPEX-2016) is going to be held in Addis Ababa, Ethiopia, by mid April. This is the first time the exhibition is being hosted outside of the Middle East.

100 Omani companies, who invested in agro industry, food, building materials and other sectors, will take part in the exhibition.

Installation work of a factory that manufactures concrete sleepers has begun in Ethiopia. The factory will produce sleepers for the 216 kilometers Meqele – Woldiya railway project and it will have the capacity to manufacture 1,000 sleepers a day. 

Almeda Textile Factory has concluded an expansion project it took with an investment of 86 million Birr in Adwa City, Ethiopia. The expansion is said to increase the company’s fabric production capacity by 100 percent.

Grand Ethiopian Renaissance Dam (GERD), Ethiopia’s largest dam upon completion, has reached a height of 75 meters. It now has a total height of 145 meters and it is more than halfway completed.

Intensive work is being done to complete the dam as per the schedule, Engineer Simegnew Bekele, Project Manager of the dam, said.

Development Bank of Ethiopia (DBE) called off its low interest rate loan. The loan scheme was given for exporters and investors engaged in import substitution. Even if most banks in Ethiopia give loans at a rate of 12 percent, DBE’s low interest rate loan was served with 9 and 8 percent.