The Ethiopian Airlines Group has appointed the African Development Bank (AfDB) as the mandated lead arranger to secure USD 8 billion in debt financing for the new Bishoftu International Airport, a USD 10 billion mega-project set to become Africa’s largest airport and a key global hub.
Ethiopia has opened a tender for four solar PV (photo-volataic) projects, the government announces.
Ethiopia is preparing to channel the trade of precious stones, including opals, sapphires, and emeralds, through the Ethiopian Commodity Exchange (ECX) in an effort to reduce smuggling and strengthen foreign exchange earnings. The Ministry of Mines is leading the initiative, drawing on the ECX model already used for major export commodities such as coffee and sesame.
The Ethiopian Railways Corporation (ERC) announced that the country’s first eco-tourism railway project has reached its final construction phase, marking a milestone in Ethiopia’s railway and tourism development.
Three more years are needed to develop petroleum resources located in Ogaden area, the Ministry of Mines, Petroleum and Natural Gas announces.
Petroleum Licensing and Administration Director at the ministry, Ketsela Tadesse, has said that the additional three years are required to address activities that “need to be done before entering into the production process.” He has further elaborated that hundreds of additional wells need to be drilled and various infrastructure facilities should also be put in place before the petroleum development could be in full swing.
