2merkato

The Addis Ababa Urban Housing Development Agency is close to begin registration for the 90-10 housing project.

The agency offered training for data encoders to be assigned to the 116 Woreda in Addis Ababa to coordinate the registration period. It is expected that 12 encoders will be assigned to each Woreda to facilitate the registration process using Woreda net the network created for the process.

The city has upgraded the data capacity of its network system from its previous capacity of 512 MB to 2 GB in anticipation according to sources. Add a comment Add a comment

Prince Aklile Berhan Mekonnen has expressed a renewed interest in acquiring Ghion Hotel in the aftermath of the latest unsuccessful tender.

It is to be remembered that Aklile Berhan had signed a 512 million US Dollar joint venture agreement with the Ethiopian Privatization and Public Enterprises Supervising Agency made in 2010

The Ethiopian born prince however defaulted on the deadline for the 210 million US dollar initial payment established by the agreement. PPESA went ahead and put the hotel up for bid several times changing its terms to offer full privatization when it found no interest for a joint venture. Add a comment Add a comment

The year on year inflation rate in Ethiopia has dropped to 12.9 percent, according to data revealed by the Central Statistics Agency. The data showed that this was the lowest the inflation rate had been in the last year.

The year on year inflation rate fell from 15.6 percent in November, following a trend downwards from the 36.3 percent peak in February noted the statistics agency.

Food price inflation fell from 13.4 percent in November to 11.8 percent year-on-year in December while non-food inflation dropped  from 19.4 percent to 14.6 percent. Add a comment Add a comment

International Financiers are showing increasing levels of interest in the Ethiopian hydropower projects said Mihiret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.

The projects planned to supply power regionally through the interconnection of the regional power grids have attracted attention from leading financiers on the international market he said.

The increasing need for electric power in the region has been a factor in convincing international financier of the viability of the project according to Mihiret. Add a comment Add a comment

The Ethiopian Standard Agency announced that it has approved 794 new and revised standards. 13 out of the total number of standards approved by the agency are intended to enforce standards for canal pumps while others are designed to regulate the construction, and textile sectors said Daniel Zenebe, Head of Communications and Public Relations with the agency.

The Ethiopian Standards Agency replaced the former Quality and Standard Authority of Ethiopia when it was officially recognized by the Ethiopian government as the national body for standards.  It performs the role of the Ethiopian Standards body for the Ethiopian government. Add a comment Add a comment

The manufacturing plant constructed by Addis Transformer and Switchgears plc is ready to launch production. The company, which is a joint venture between Ethiopian company Bridgetech plc and Emirati Company Al-Nasser Industrial Enterprises, subsidiary Federal Transformer LLC was set up with a 300 million birr capital.

The factory constructed on 2500 meter squares at the Tatek Industrial Zone, in Oromia Regional state cost an estimated 100 million birr said Yeshiwas Shibabaw, managing director of Bridgetech Plc.

It took eighteen months to complete the construction work on the factory intended to manufacture switch gears as well as transformers. Add a comment Add a comment

Domestic Ethiopian Petroleum vendor Yetebaberut Beherawi Petroleum announced profits lower than what it had earned in the previous fiscal year.

The petroleum company reported 5.5 million birr in net profit for the last financial year at the annual General Assembly of Shareholders held at the Hilton Hotel. The profit it reported was 12.5 million birr lower than the 18.7 million birr it had declared for the year before.

YBP retailed 262.1 million liters of petrol and 1.72 million liters of oil from which it collected 4.5 billion birr. The total sales of the company showed an increase of 31 percent (1.5 billion birr) from its performance in the previous year. Add a comment Add a comment

The Ethiopian Railway Corporation is to terminate its consultancy agreement with Swedish National Road Consulting according to sources.

The subsidiary of the Swedish Transport Administration officially stopped operations on the Sebeta-Mei’so-Dewale railway project it was learned.

The consultancy agreement was terminated on the basis of the corporation’s agreement with Chinese Import-Export Bank, which is financing the project according to Debo Tunka, Deputy Chief Executive of the Infrastructure Division of ERC. Add a comment Add a comment

The Ethiopian Electric Power Corporation has struck a 120 million US dollar agreement with British company Cambridge Industries Limited to construct what it refers to as the first Sub-Saharan Africa Waste-To-Energy facility.

The agreement signed last week at the Addis Ababa Hilton Hotel contracts for the construction of a facility with the capacity to generate 50 Mega Watts of power.

The project is to be fully financed by funds from the Ethiopian government it was learned. Add a comment Add a comment

Ethio Telecom is to change it logo to one that better expresses the company and reflects its role in the country said Dr. Debretsion Gebremichael, Deputy Prime Minister and Minister of Information and Communication.

The current logo introduced early last year is also similar in design although different in color to the logo used by European company, Euroclean which makes the change desirable he noted.

The similarity in design is probably the most important reason why Ethio-telecom is changing its logo according to sources. Add a comment Add a comment