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Ethiopian Roads Authority awarded a 1.2 billion Ethiopian birr road construction project to Chines Company, Sino Hydro Corporation Limited.

The contract for the 90 KM long road upgrade project from Bahir Dar to Zema Wenze was signed on September 9, 2013 in Addis Ababa, Ethiopia.

Brookside Dairy, a Kenya based milk processing and marketing company is eyeing to acquire 20 percent share in Ethiopia's Elemtu Milk Integrated Industry, Fortune reported.

Elemtu is developing a milk processing plant in the outskirts of the capital, Addis Ababa at a cost of 60 million Ethiopian birr.

The Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) is to establish a Corporate Governance Institute, that seek to govern conducts of private businesses in Ethiopia.

Getachew Regassa, secretary general of the AACCSA, told journalists that the institute will be responsible in regulating volunteer business entities of the country based on a set of code of conducts.

The Ethiopian Government and Icelandic International Development Agency (ICEIDA) signed a partnership agreement for geothermal surface exploration and capacity building for geothermal development.

The agreement is signed as part of the ICEIDA/NDF Geothermal Exploration Project, according to information obtained from ICEIDA website.

Ethiopian Roads Authority said, construction of 15 road projects at a cost of over 7.6 billion Ethiopian birr was undertaken throughout Ethiopia during the concluded Ethiopian Fiscal Year.

Samson Wondimu, Public relation director with the Authority, told Ethiopian News Agency over the weekend that the projects cover a total of 1,154km.

The Addis Ababa City Roads Authority is to launch the construction of the road stretching from St. George Church to 18 Mazoria in Kolefe Keranio District and the road from Inter-city Bus terminal to Lideta Church, in October 2013.

The Authority will award contracts this month. The road projects are scheduled to be completed in a year period, Fekade Haile, general manager of the Authority told Fortune.

Ethiopian Airlines and the Eastern and Southern Africa Trade and Development Bank (PTA) signed a US$ 22 million loan agreement at Capital Hotel, Addis Ababa, yesterday. 

According to the agreement, the loan will used to finance the first phase of the Airline's housing project, which aims to build 1,192 houses for its employees.  

Ethio Leather Industry PLC (ELICO), a subsidiary of MIDROC Ethiopia, inagurated a new shoes factory on September 7, 2013. 

The factory, built at a cost of 83 million Ethiopian birr, is expected to produce 1,000 shoes a day.

The Ethiopian Ministry of Industry has signed agreement with the Chinese Association of Industry Zones for construction of an industry zone in Dire Dawa town. 

According to the agreemnet, the association will draft master plan for the industry zone and carry out study on the construction of the zone. 

Ethiopia's Construction & Business Bank posted a net profit of 110 million Ethiopian birr in the 2012/13 Ethiopian Fiscal Year.

The Bank has also earned a total income of 488.1 million birr, surpassing the previous year's earning by 46.5 million birr.