The Norwegian chemical and mining company, Yara International PLC, has acquired exploration and mining licenses for 20 years. The company is going to undertake exploration and mining activities in Afar State and its licenses have the option of being extended for another 10 years depending on the demand.
Yetebaberut Beherawi Petroleum S.C. (YBP) is set to build a 12 storey building which will serve as its headquarter. The building is going to lay on 400 Square Meters behind YBP’s service station site at CMC and expected to cost 50 Million Birr.
One of Ethiopia’s local petroleum distributing company, Yetebabaerut Beherawi Petroleum S.C., is set to establish a joint venture with Mesfin Industrial Engineering (MIE), an Ethiopian company, and the American based Global Electric Transport (GET). The joint ventured is going to assemble electric vehicle, service and public transportation solution.
Central Statics Agency (CSA) reported Ethiopia’s year on year inflation has rose to 8.5 percent in March. In February the inflation rate was 7 percent.
Year on year inflation of Ethiopia has rose to 9.4 percent in July. The inflation rate was 8.8 percent back in June.
