Abu Thiyab Holdings Co, a Saudi company, announced that it was poised to inaugurate its water bottling plant in September 2011 in its factory in Ethiopia. The construction of the plant in Gelan, a 35 million birr investment on three hectares of land 35 km east of Addis Ababa, is almost finished.
The Ethiopian Ministry of Agriculture is to provide 130 thousand hectares of land to Saudi Star Agricultural Development plc pending discussions that are currently underway between the two parties according to Haile Assegide, Chief Executive of Saudi Star sister company Derba MIDROC.
Saudi Star is currently raising rice in Gambella Regional State on 10 thousand hectares that it previously acquired. The company was established by the Ethiopian born Saudi billionaire Sheik Mohammed Ali al Amoudi with an initial capital of half a billion birr.
The company is also in the process of acquiring 300 hectares in Gambella and 200 hecatres in Amhara and Benishangul Regional States according to sources.
The first session of the Saudi-Ethiopian Business Council convened in Riyadh, marking a step towards enhanced economic cooperation between the Kingdom and Ethiopia, the Ethiopian Embassy in Riyadh announced.
Ethiopian Prime Minister’s Advisor, Getachew Reda said Ethiopia received an offer from the Sawiris family to invest in the country’s hotels sector.
The Saygin Textile Dima Textile factory is to begin operations in Ethiopia by the end of this month. 
The factory is expected to produce yarn and fabric for both the local and export markets including acrylic, cotton, linen, wool and textile fibers according to Turan Ahmet Turan General Manager of Saygin Dima.
The factory expects to enhance production by focusing on weaving and products such as sweaters, socks and linens.
