2merkato

Ethiopian Airlines is to improve cargo services to increase foreign trade in the country. The airline is in the process of constructing a cargo terminal with the capacity to handle 1.2 million tons of cargo as part of its ambition to improve the services according to the Public Relations Office of the airline.

The construction of the terminal will be carried out in two phases.

Ethiopian will also plan to construct a cold warehouse in the next four months to aid in efforts to develop cargo services.

Ethiopian flower exporters are considering entering the Russian flower market directly. Exporters were not able to access the large Russian market because Ethiopian Airlines does not offer flights to Moscow according to sources.

Currently Ethiopian flowers are exported to the Netherlands with the Netherlanders exporting to Russia under their own tag.

Ethiopian Airlines, the Ministry of Transport, the Ministry of Foreign Affairs, and the Ethiopian Airlines are working to facilitate the processes to launch cargo flights to Moscow said Endashaw Yigezu, Head of Air Transport and Planning at a consultative meeting held by the Ethiopian Civil Aviation Authority.

The African Development Bank is developing a strategy that will allow it to enhance its financing to the private sector in Ethiopia.

The minimum amount of loan that the bank offers to private companies is 10 million US dollars said Gebriel Negatu, Director of the AfDB’s East African Regional Center speaking at an event to introduce the new policy strategy with leaders of the East African private sector held at Addis Ababa, Hilton.

The private sector in the country is not yet able to sustain large loans which make it difficult to provide financing in Ethiopia said the Director.

Tsehay Industrials plc is to takeover the publicly Kality Metal Products Factory three months after being declared the winner in the privatization bid tendered by the Ethiopian  Privatization and Public Enterprises Supervising Agency.

The handover process was delayed for three months while the agency reviewed the company’s financial capacity to run the factory once it takes it over.  Tsehay acquired the manufacturing company for 55 million birr and has paid 35% pre-payment and will pay the remaining 65% over five years.

Ethiopia is to build a new international airport between Meki and Modjo roads to address the growth of air traffic at Bole International Airport, Addis Ababa.

The Ethiopian Airport Enterprise is conducting a study to build a new international airport said Colonel Wossenyeleh Hunegnaw, Director of the Ethiopian Civil Aviation Authority.

Bole International Airport, Addis Ababa currently services more than 150 flights daily with Ethiopian Airlines accounting for more than 60 departures a day while the numbers of international carriers operating in out of the airport have also increased to 13 contributing to the need to build a new airport explained the source.

Ethiopian Airlines has registered rapid and profitable growth in the past two years in spite of the global economic crisis and periodic increases in petroleum price.

The increase in petroleum prices, the global economic crisis and political instability in the Middle East has been a significant challenge for other airlines according to the Public Relations and Communication Service of the airline.  

Ethiopian Airlines managed to remain profitable and competitive during this financial year by synchronizing its services with the demand market and offering favorable flight conditions for passengers.

The city administration of Addis Ababa has finalized preparations to construct 35,000 condominium houses in the next financial year said the Construction and Housing Development Bureau of the administration.

The houses will be constructed at the Yeka Abido, Arab and Kilinto sites all reserved for the construction of condominium housing said Getachew Hailemariam, Head of the Bureau. 70% of the houses are designated for low income households he noted.

The administration expects to build more than 170,000 condominiums in the coming three years he added.

Ethiopia has earned more than 101 million US dollars from leather exports in just the last eleven months announced the Leather Industry Development Institute.

The revenue was earned from the export of leather products to Asia, African and European countries as well as the United States said Berhanu Serjebo, Director of the Corporate Communication Director with the LIDI.

The sum earned from the sector in the reporting period is close to the 104 million US dollars generated in the previous financial year.

The Ethiopian Radiation Protection Authority took steps to protect the public from radiation by enacting corrective measures on 58 institutions it announced.

The authority carried out inspections on the institutions in response to tips received from the public in Addis Ababa and other parts of the country according to Abdurezak Oumer, Director General of the Authority.

The authority has banned services that were delivered through equipment that emitted unacceptable levels of radioactivity he said.