Abay Industry Development S.C. is going to build a cement factory in Dejen City, Amhara State, for which cornerstone was laid on April 20, 2015. The plant is going to be constructed at an outlay of 7.5 billion Birr and scheduled to be completed in 4 years.
Ethiopia’s Prime Minister announced that, as a result of the country’s current reforms, Ethiopia would get a USD 1 billion budget support from the World Bank in the coming few months. The World Bank and other donors suspended their budgetary support to the country after the 2005 election.
World Bank’s Managing Director, Sri Mulyani Indrawati, affirmed the Bank’s further assistance to Ethiopia in the nation’s efforts in industrial development.
The National Bank of Ethiopia (NBE) has announced that it will grant licenses to five foreign banks to operate in Ethiopia. The aim is to bring foreign banks into the country while also supporting the development of local financial institutions.
Ethiopia is in the process of finalizing preparations to offer 24 hour power supply for manufacturing industries in Addis Ababa said
Miheret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.
The country currently has the installed potential to produce almost 3000 MW of electricity of which more than 40% is allocated to the industrial sector and 30% goes to the service sector it was said at a consultative deliberation held between representatives of major industries and experts from the Ministry of Water and Energy and the Ethiopian Electric Power Corporation.
