Ambassel Trading House PLC, one of the subsidiary companies for TIRET, has bought Kombolcha Textile after it has settled the 35 percent down payment required for privatization. It was for 450 million that Ambassel acquired the enterprise from Ethiopia’s government.
Top water bottling company plans to improve its production by 133%. The company entered the market recently and it is investing Birr 40 million to achieve its plan. The company’s bottling capacity will increase to 42,000 liters of water per hour from its current production capacity of 18,000 liters of water when it plants a water purification and bottling machine which is expected to arrive within two months from China.
A groundbreaking ceremony on May 8th, 2024, marked the official start of construction for Toppan Gravity's USD 55 million manufacturing facility in Bole Lemi Industrial Park.
Ethiopia invited Canadian investors to invest in mining, agriculture, tourism, technology, and manufacturing in Ethiopia during the 4th Ethio-Canada Trade and Investment Forum which was held in Toronto, Canada. The forum aimed to inform Canadian investors about investment opportunities in Ethiopia and the country’s Homegrown Economic Reform.
Toshiba Corporation disclosed it concluded a memorandum of understanding (MoU) with the Ethiopian Utility company, Ethiopian Electric Power (EEP), for a comprehensive partnership in geothermal power. The MoU stipulates EEP and Toshiba will collaborate in power generation
projects and personnel development.
