Production to start in 2014
Lalibela Cement Factory, which is currently selling shares, is planning to start construction in June 2012 in Dejen, on 3,000 hectares of land.
The factory will produce 1.2 million tonnes of Ordinary Portland Cement and Portland Pozzolana Cement annually when it begins fully fledged production in 2014.
Lamudi, the global property marketplace, opened office in Ethiopia, Capital reported.
Lawmakers are scheduled to vote next on 5 July 2011 on the proposed 39 percent increase in the budget for projects targeting the improvement of food security and infrastructure programs, an official of the Ministry of Finance said.
Ethiopia to be part of the free trade zone
African trade officials met this week in Johannesburg to launch negotiations for a free trade area (FTA) which would embrace more than 26 countries, and about a trillion dollars of economic output.
The proposed deal would unite three existing trade blocs in central, eastern and southern Africa. It is believed that the free trade area will do away with most trade barriers between participating countries. African leaders said that the Free Trade Area (FTA) would be practical within three years.
Two of the blocs, the Common Market for East and Southern Africa (COMESA) and the East African Community (EAC), have already been enjoying tariff- and quota-free trade.
In the mean time, the third bloc, the Southern Africa Development Community (SADC), only has levies on 15 percent of goods and should be removing those by January.
When the negotiations are concluded, the enlarged FTA would include Ethiopia, Angola, Botswana, Burundi, Comoros, Djibouti, DRC, Egypt, Eritrea, Kenya, Lesotho, Libya, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Seychelles, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
Commerce within Africa is limited with not more than 10 percent of the continent's trade being conducted between African countries, while the balance goes overseas.
After its formation is complete, the free trade area will be hopefully open to regions throughout the whole continent, Diouf of the African Agency for Trade and Development said.
Source: Christian Science Monitor, Reuters
Leather exports from Ethiopia earned 11.7 Million US Dollars in revenue in the month of June according to the Ethiopian Leather Technology Development Institute.
The revenue was earned through the export of products that include finished leather good such as shoes and gloves noted Birhanu Sirjabo, Director of communications with the Institute.
The amount earned in the month is 4 million US dollars more than what was earned in the month of May he claimed.
