2merkato

Hungary plans to open embassy in Ethiopia within the next 18 months to strengthen relations, Hungarian Foreign Minister said.

Hyatt Palm Oil returned to the Ethiopian market this month after the government added the manufacturer FELDA iFFCO to the list of authorized oil suppliers to Ethiopia.

Hayatt had been out of the Ethiopian market for almost a year said Yeshi Kernessa, Manager of the Ethiopian Market from the manufacturers’ East Africa Regional Commercial Representative Office. Hayatt had discontinued supplying the oil after a disagreement on pricing following the Ethiopian government’s takeover as the sole supplier of Palm oil nationally.

Ethiopia is a large market and the company is happy to supply its product here according to Yeshi.

Hyatt Hotels Corporation (NYSE: H) announced today the opening of Hyatt Regency Addis Ababa, the first Hyatt branded hotel in Ethiopia and the seventh in Africa. The 188-room property is centrally located on Meskel Square, near shopping centers, restaurants, bars, and tourist attractions, including [a] National Museum.

The construction of the Chemoga-Yeda hydropower plant on the outskirts of Debre Markos is lagging behind schedule due to lack of finances.

The 555 million dollar hydropower project was being funded by the Chinese EXIM bank. It was planned to be executed in two stages and to generate 278 megawatt of electricity.

The Chemoga-Yeda River is one of the tributaries of the Nile. Countries downstream of the Nile are concerned about the hydropower project and have been lobbying to the EXIM bank for delay in financing the project, officials of the Ethiopian Electric Power Corporation (EEPCo) said.

The Awash Melkasa Aluminum Sulfate and Sulfuric Acid Factory announced plans to establish a hydrogen peroxide factory in Ethiopia.

The hydrogen peroxide factory, which will begin construction soon will cost an estimated 155 million birr according to Admasu Tabaeto, Production and Technical Support Process Owner with Awash Melkasa.