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Gafat Endowment has announced plans to invest 7 billion birr in Ethiopia to establish a paper and pulp project, Tana Paper and Pulp Factory S.C, in the Amhara Regional State

The project will also include a pulp wood farm for a variety of Eucalyptus trees especially adapted to produce pulp.

Diageo is to begin the take over process at Meta Abo Brewery, Ethiopia. The International distiller arranged for the transfer with Ethiopian Privatization and Public Enterprises Supervising Agency at the end of November.

The transfer process is expected to take three weeks commencing from next Monday said Brook Worku, Country Representative for Diageo.

Diageo will conclude the final payment as per the agreement reached with PPESA according to Brook.

Captain Desta Zeru, Vice President Flight Operations will fly the Boeing 787 Dreamliner from Haikou China to Addis Ababa on the 11th of December. The Dreamliner will make a stop in Ethiopia as part of the Dream Tour promoting the 787. 

The ‘Dream Tour’ will allow Boeing customers and partners across the world to experience the innovative technology offered on the company’s most fuel efficient aircraft to date said a statement from Boeing. 

Turkish Company, Karel, is set to enter the Ethiopian telecommunications market. The company is interested in investing in the Ethiopian market which is dominated by only a few companies according to Umut Oner Accounts Manager of Karel.  

Karel, a Private Branch Exchange (PBX) manufacturer, is an internationally recognized producer of telecommunications equipment explained promoters. It hopes to be able to introduce Voice Over IP and Closed Circuit TV services to the Ethiopian market. The services haven’t been allowed in Ethiopia as of yet.

Debub Global Bank Share Company is to enter the Ethiopian banking sector in 2012. The Bank has raised 286 million birr in subscribed capital and 150 million in paid up capital through the sale of shares. 5481 shares have been presented to the National Bank pending signature and verification by shareholders according to an official at the Bank.

Debub Global Bank expects to concentrate its activities in the South of Ethiopia where there exists untapped potential for investment said the official. The shareholders of the bank understand the potentials in the South and are interested in engaging in investment and trade in the area explained the official.

Kabu Coffee has announced plans to market export standard Ethiopian coffee. The company has expanded its investment capital to 10 million birr for this venture.

Kabu is marketing high quality roasted coffee to international and domestic customers according to Aman Adinew company advisor. The company aimed to venture out in this direction from the outset he said.

Kabu strives to carefully control the quality of its ingredients to ensure the quality service promised by its slogan ‘Coffee Redefined’ said Aman.

Tsemex is set to provide large capacity water tanks to help resolve the water problem in Ethiopia.  The company plans to import water tanks with the capacity to hold 12,000 liters and custom designed tanks that can hold up to 10 million liters.

The Pioneer water tanks that Tsemex will import come in diameters ranging from 2.68 meters to 20.05 meters and with heights of 1.1 meter to 8.5 meter said Rezene Ayalew Managing Director of Tsemex.

Delbi Coal Mining Share Company is set to extract 30,000 tons of coal in Ethiopia. The company will be extracting coal from an open mining field in Jimma. Delbi plans to increase its production to 200,000 tons of coal in time. 

Delbi has extracted and sold an estimated 46,000 tons of coal since it began operating. The company has begun preparation for the mining project.

BGI Ethiopia paid an initial 45 million birr for the shares it acquired in Raya Brewery. BGI has agreed to pay 75 million birr for a 30% share of the brewery.

The partnership between BGI Ethiopia, an established beer producer in the country, and the new brewery is expected to make the two companies highly competitive on the national market.

Allana Potash Corp announced it has intersected to zones of strong potash mineralization on its potash concession in Ethiopia.

The company made known on Tuesday that a hole located on the Western part of its property intersected a strong Sylvinite Zone at a depth of 193.7 metres, yielding 32.02% KCI over 5.35 metres, including a high grade section from 195.2 to 197.7 metres of 43.85% KCI.