2merkato

Ethiopian Road Construction Corporation (ERCC) disclosed it built and repaired a total of 7,819 kilometers in the past seven months across Ethiopia. The Corporation carried out the tasks at an outlay of 1 billion Birr.

Ethiopia intends to build expressways across the country in areas that are regarded as major congested areas. According to Ethiopian Roads Authority (ERA), this is going to be done in the aim of solving the traffic overcrowding.

Kessem irrigation project which consumed 2.6 billion Birr and constructed by Water Works Construction is 99 percent completed and has started giving service. This was disclosed by the resident engineer of the project Jegsa Deyisa.

Central Statistics Agency (CSA) disclosed Ethiopia’s inflation rate has risen to 8.2 percent in the month of February. The Agency attributed this to the higher prices of food items such as vegetables, fruits and meat.

The Egyptian company Asec Engineering and Management concluded plant management agreement with Ethiopia’s national Cement Share Company.

Djiboutian bank, Red Sea Trade & Industry Bank (BCIMR), opened a representative office here in Ethiopia. The inaugural ceremony which was held in Sheraton Addis was attended by the Bank’s director general Jean Pierre Gianotti.

Ethiopia’s state owned Metal and Engineering Corporation (METEC) under its locomotive industry has started producing railcars in the aim of substituting them locally.

One of Ethiopia’s wind farms that are under construction, Adama II wind farm, is expected to be completed and start generating 153 megawatt in June. The project is being carried out an outlay of USD 345 million.

One of Ethiopia’s private banks, Abay Bank S.C., disclosed it made 93 million Birr profit during the first six months of its current fiscal year.

One of Ethiopia’s local petroleum distributing company, Yetebabaerut Beherawi Petroleum S.C., is set to establish a joint venture with Mesfin Industrial Engineering (MIE), an Ethiopian company, and the American based Global Electric Transport (GET). The joint ventured is going to assemble electric vehicle, service and public transportation solution.