2merkato

The Busan Economic Promotion Agency (BEPA) Footwear Industrial Promotion Center has announced its intention to launch a footwear production capacity-building project in Ethiopia. The project, which will be funded with a USD 10 million grant from the Republic of Korea Official Development Assistance (ODA), aims to enhance the competitiveness of Ethiopia's leather and leather products industry, particularly the footwear sector. The project will begin in 2023 and continue until 2027, providing the necessary training and assistance to local footwear producers and officials to improve their productivity and effectiveness.

Kuriftu Resort and Spa will inaugurate in two months time its new 15 Million Birr lakeside restaurant, Fortune reported. The restaurant is built on the shores of Lake Tana and on the left of the main Kuriftu Resort.

Kuwait Fund promised to support ongoing road construction and water provision projects in Ethiopia. It has also pledged to support the expansion project at the Addis Ababa Bole International Airport.

The Fund has so far provided an aggregate support of USD 150 million to six projects, its Director General, Abdulwahab Al-Bader told Ethiopian Radio & Television Agency.

Abebe Abebayehu, Commissioner of Ethiopian Investment Commission (EIC) said many labor-intensive foreign companies are showing interest to work in Ethiopia.

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.