2merkato

Horizon Addis, the only tire manufacturer in Ethiopia, is set to invest 1.1 billion birr on an expansion project. Horizon is in the process of negotiations with one of the top tire manufacturers in the world, Continental Germany, to exchange its antiquated machinery for the latest equipment.

One of the new machines that Horizon is planning to install is a 30 million birr machine that can produce 80,000 pieces of light truck radial tire every year. It is expected that the new machine will begin production in the coming September allowing Horizon to supply higher quality truck and bus tires.

It is expected that the expansion program will be completed in 18 months according to Belay Dechasa, General Manager of Horizon.

The Ethiopian Agricultural Authority (EAA) and the Netherlands Centre for the Promotion of Imports (CBI) have signed a Memorandum of Understanding which aims to increase the competitiveness of Ethiopian agricultural products on the international market. CBI is an agency of the Ministry of Foreign Affairs of the Netherlands that contributes to sustainable and inclusive economic development in developing countries by expanding exports from these countries to Europe.

Hospitality Group's 2015 survey ranked Ethiopia eight out of the top ten countries for chain hotel developments in pipeline with 1,326 rooms.

Hotel Nazrawi to join the Ethiopian hospitality industry in time for the African Unions golden jubilee. The ten storey hotel, built on Gabon Avenue at a cost of 150 million birr is scheduled to be inaugurated the coming may.

Negussie Awgechew, general manager of Hotel Nazrawi said that the Hotel is has a panoramic view and offers services of a modern restaurant, a roof-top bar and fitness facilities including a spa and a morocco bath. The new hotel has 55 rooms including presidential suite and executive suite.

A new system to rate hotels in Ethiopia is expected to be on line by the end of the current year announced the Ministry of Culture and Tourism. The ministry revised its rating system to match international standards on the basis of feedback from the United Nations World Tourism Organization.

The UNWTO experts concluded that the previous system needed to clarify the criteria better and to allow more time for hotels to prepare to meet standards said Sisay Teklu, coordinator of Tourism Services Competence Accreditation Directorate with the Ministry of Culture.