2merkato

A chlorine factory built in Ethiopia will begin production in September according to the Addis Ababa Water and Sewerage Authority.

The factory will help save an estimated 20 million birr spent on the import 500 tons of chlorine every year according to Engineer Emiru Mekonnen, Production Head with the authority.

The factory is part of the expansion program launched at a cost of 500 million birr at the Dire And Legedadi water reservoirs said Emiru.

Stratex announced uncovering a potential major epithermal vein system within it Blackrock Project in Ethiopia. The company has observed significantly encouraging geology, texture and extent of gold mineralization with the Black Water Zone noted David Hall, Director of Stratex.

The 33-hole program, launched by the international company has uncovered narrow, high grade mineralization which includes 15.97 grams per ton over a quarter of a meter, and 4.93 grams from a 900 millimeter section he added.

There were also noted several thick intersections of low-grade material of up to 13 meters in width according to Hall.

The annual inflation rate in Ethiopia remained at 20% in July according to data revealed this week. Month-on-month prices remained unchanged for the third consecutive month revealed the data.

The pace of increase in food prices, however, has marginally slowed down showed the data. Food inflation decreased to 20.7% from 21.5% and non food inflation fell to 19.8% from 19%.

The year on year inflation rates showed signs of alleviating from 20.9% in June noted the Central Statistics office.

Ethiopia secured 461 million US dollars from the tourism sector from an estimated 584, 490 tourists who visited the country in the last financial year according to the Ministry of Culture and Tourism.

The stated revenue does not include earnings from domestic tourism said said Amin Abdulkadir, Minister for Culture and Tourism speaking at a meeting organized to assess the performance recorded by the ministry in the just concluded budget year as well as to launch the action plan for the new fiscal year.

A range of activities intended to promote and enhance cultural, historical and natural tourist attractions in the country contributed to the sum earned according to Amin.

The project to construct ten sugar factories launched in different parts of Ethiopia estimated to be worth 80 billion birr is progressing well according to the Ethiopian Sugar Corporation.

Various parts of the project including the construction of dams and roads, irrigation and infrastructure development is well under way in the parts of the country where the projects are being launched said Yilma Tibebu, Director of Legal and Public Relations with the Corporation according to Yilma Tibebu.  

The projects are being developed in the Afar, Amhara, Tigray and Southern Regional States as part of plans to enable the country to become one of the top ten sugar exporters in the world.

The Ethiopian Revenue and Customs Authority extended the tax deadline for Group ‘C’ taxpayers in Addis Ababa by a week to August 14th.

Group ‘C’ businesses are those businesses which have annual sales less than 100 thousand birr and who are not expected to collect Value Added Tax but pay a gross estimated annual tax amount.  

Meanwhile the deadline Group A taxpayers who are charged with monthly obligations including the collection of VAT on behalf of the tax authority is November 9th and the deadline for Group B businesses is set to the 10th of September.

Nyota Mining Limited is to get a gold mining license for operations on its Tulu Kapi site in Ethiopia.The company is expected to receive the license by the end of the coming September according to a tentative schedule said Sinkenesh Ejigu, Minister for Mines.

It is to be remembered that Nyota applied for a ten year license to carry out mining operations in the area after it submitted a Technical Feasibility Study confirming the presence of gold reserves in the area along side an Environmental and Social Impact Assessment which where both evaluated by ministry experts.

Ethiopian Airlines announced that it expects to take delivery of its first Boeing 787 Dreamliner on the 14th of August in Seattle, Washington.

The airline is proud to be the first airline from Africa, the Americas, Europe and the Middle East to take delivery of the Dreamliner and to be able to offer its passengers the unique flight experience offered by this aircraft.

Ethiopian is the only airline, other than Japan, to receive the new class of aircraft affirming its pioneer status in African aviation said Tewolde Gebremariam, Chief Executive of the airline.

Ethiopia exported just 183 tons of cotton out of several thousand tons of surplus production in the 2011-12 financial year.

The exports for the fiscal year were executed after the government lifted its 18 month export ban in March of 2012.

Ethiopian cotton went to Portugal earning 5.1 million birr according to a report released by the Ministry of Trade. Exports would have been higher if it had not been for the ban said a manager of the Ethiopian Cotton Producers and Experts Association.