2merkato

Some of the machinery ordered by the Ethiopian government for the building of the Renaissance Dam started arriving in Port Djibouti. The machines that arrived at Port of Djibouti and are ready for transport were imported primarily from the United States and Italy.

A couple of US made Caterpillar family trucks, (990) at a cost of 1.5 million dollars each and Italian Astra machinery (including RD 40 and RD 50) at a cost of 250,00 euros each are currently at Port Djibouti awaiting transport to the project site. The imported machinery consists of bulldozers, dumpers, rollers, graders as well as other heavy duty machines to be utilized in the construction of the Dam said Mr. Pierre Kothari, Agent for Salini Contractors in Djibouti, on Wednesday.

The Made in Ethiopia Expo has facilitated market connections valued at more than Birr 4 billion birr, Minister of Industry Melaku Alebel announced during the closing ceremony of the expo.

Maersk Oil announced on 23 February that it had acquired 50 percent of five Africa Oil Corp. oil exploration licenses in Ethiopia and Kenya. Two of these licenses are contiguous licenses in Southern Ethiopia while the rest three are onshore exploration in Northern part of Kenya.

A.P. Moller-Maersk has agreed to buy half of Africa Oil Corporation’s stakes in three onshore exploration licenses in Kenya and two in Ethiopia for as much as USD 845 million, Bloomberg reported.

United Insurance, Ethiopia has awarded Magercon Construction the contract to for the first phase of construction on the 42 million birr mall in Addis Ababa.

The insurance company has been negotiating over the 20,000m2 plot of land for the building requiring a revised site plan after claiming to have lost an estimated 200m2 due to road constructions.

United was awarded its revised plant by the City Administration with the understanding that it should commence construction in six months.