The Tulu Kapi gold mine, which is Ethiopia's first modern industrial-scale gold producer, is scheduled to begin operations in September. The mine has a capital investment of over 500 million USD and has completed all necessary preparations to commence its activities.
British earthmoving construction firm PW Mining and Australian process plant construction company Lycopodium, have signed the Final Umbrella Agreement with Tulu Kapi Gold Mines (TKGM), a gold and copper exploration and development company. The companies need to finalize all arrangements in the community before starting construction and gold production. The two companies have hired British and Australian contractors that specialize in mining.
The African Development Bank Group approved a USD 10 million grant for the Tulu Moye Geothermal Project which would be used tie project’s drilling program. In 2020 a USD 1.55 million grant was allocated for the project by the USD International Development Corporation while Geothermal Risk Mitigation Facility provided an additional grant of USD 9.9 million.
Delegates of 100 Turkish businesses are expected to meet with Prime Minister Haile Mariam Desalegn here in Ethiopia to discuss possible investment opportunities.
The Turkey based personal hygiene solutions has started to produce diapers in Ethiopia from its factory located in Hawassa Industrial Park. The plant has now started producing Canbebe diapers and it is working with only 60 percent of its capacity.
