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 fourth edition of the “Made in Ethiopia” Expo concluded in Addis Ababa after generating trade and marketing agreements worth more than Birr 57 billion.

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.