2merkato

An estimated 10,000 condominium houses will be transferred over the next two months, to owners in the Ethiopian capital according to Kuma Demeksa, Mayor of Addis Ababa City Administration.

The condominium houses built at the Summit site will be transferred to new owners selected by random draws as well as to people relocated by the redevelopment projects currently underway in the city said Kuma.  

The new condos are in the final phase of construction awaiting finishing work such as painting, sewage systems, installation of water and electric lines said the Mayor.

The Addis Ababa Water and Sewerage Authority (AAWSA) is undertaking expansion at a cost of 580 million birr to raise drinking water supply of the metropolis.

Project Development and Promotion Office Manager with AAWSA, Engineer Seyoum Berhanu, said the expansion is underway at Legedadi water treatment plant and Dire dam.

According to him, the expansion will increase the water supply capacity of Legedadi to 195,000 cubic meters per day from the existing 165,000 cubic meters. The ongoing expansion would help to improve water supply at the northern and north-east part of the city, he said.

AAWSA sheduled to finalize the expansion of Dire dam with in 16 months and Legedadi within 24 months, he said.

Source: Walta

China National Textile and Apparel Council (CNTAC) said it was interested to invest in Ethiopia. A delegation consisted of 52 members discussed with President Mulatu Teshome about investment opportunities in the country. Sun Ruizhe, CNTAC’s president said he came to Ethiopia to undertake a feasibility study on textile on large scale textile investments. He said, “Many Chinese textile entrepreneurs are interested to invest in Ethiopia because we have clear understanding of government policy, high efficiency, incentives and privileges and also the comparative advantage of developing textile industry in Ethiopia.”

Two local mining firms with over 1.5 billion birr capital and an annual production capacity of 700,000 tons of coal have launched coal mining projects in Ethiopia's Southwest region.

The Coca-Cola Company introduced Schweppes Novida Pineapple to the Ethiopian market. The launch was held at the Marriott Hotel in Addis, along with a fashion show featuring some of the best designers in Ethiopia.