2merkato

Dr. Mekonnen Hagos, President of Medco Bio Medical College and Vayugrid Marketplace Services plc signed a Memorandum of Understanding for the pilot production of the Pongomia plant trademarked and market as Vayusap.

The joint development agreement includes acquiring land for the pilot project to plant the pongomia trees for producing the Vayusap, with a plan to obtain additional land with the success of the pilot said Ashok Sharma, Vayugrid Coordinator for Africa.

The agreement stipulates that the cost of the project and the cost sharing mechanism of the two partners will depend on the lease price of the land to be acquired and the type of land that will be allocated noted Sharma.

Pittards has announced plans to venture into sheep farming in Ethiopia. The UK-based leather and leather products manufacturing company is looking to move into the supply side of the business according to John Moriarty, Managing Director of Pittards Ethiopia Tannery.

The company has looked at a 10,000 hectare plot of land in the North Shoa region said Moriarty.

Ethiopian Prime Minister Hailemariam Desealegn on December 9, 2015, has inaugurated the Metu-Gambella 230 kilovolt power transmission and power reception and distribution project, Ethiopian News Agency reported.

The office of the Prime Minister of Ethiopia has approved the 1.7 billion birr soft loan from the Export-Import Bank of China for the water wells project of the Addis Ababa Water and Sewerage Authority.

The loan has been referred to the Budget and Finance Standing Committee of the House of Representatives before being tabled before the Parliament for final approval.

The project will be launched after receiving final approval and is expected to be complete in two year’s time.

The Ethiopian Private Organization’s Employee Social Security Agency has collected more than 800 million birr in the first year that it had been in operation according to the Ethiopian Revenue and Custom Authority.

The authority has been able to collect over 800 million birr in pension contributions from private organizations according to Melaku Fenta, Director General of ERCA in a statement to the press in regards the performance of the authority.

Private companies have been handling payment of pension contributions through the revenue collecting offices.