Ethiopia's Nib Bank, together with its sister company, Nib Insurance has awarded China Railway Engineering Group for construction of a 35 storey headquarters building.
China Railway Engineering Group is already involved in several projects in Ethiopia, prominently the Ethio-Djibouti railway construction project.
Ethiopia's Nyala Motors S.C, exlusive distributor of motor vehicles and equipments announced plans to establish assembly plant for Nissan vehicles in Ethiopia. Abraham Abegaz, CEO of Nyala Motors, said the plan might take up to five years.
The Omo Kuraz sugar development project in Ethiopia has reportedly created jobs for more than six thousand residents of the of the area, according to Nuredin Asaro, General Manager of Omo Kuraz sugar development project.
The project comprises the construction of five of the 10 sugar factories planned to be built across the country by the end of the Growth and Transformation Plan (GTP) period.Various infrastructure projects with a total worth of over $139.7 million (4.8 billion birr) have been completed and are set to be inaugurated in Ethiopia's Oromia region, the communications bureau of the region announced.
Ethiopia's parliament, the House of People's Representatives, approved the proposed additional budget of 122 billion birr. The additional budget is aimed at enhancing national security, humanitarian efforts, rehabilitation for people affected by the ongoing conflict, as well as other important government tasks, it has been learned.
Out of the 122 billion birr, 90 billion is for the Ministry of Defence, 8 billion birr as backup, 7 billion birr for bringing capital projects to completion, and 9 billion birr to compensate for tax shortages.
The need for an additional budget has been necessitated mainly due to the strain caused by the war in northern Ethiopia. This has made it difficult for the government to meet ends related to payment requests, the Ministry of Finance had related while preparing the request for the additional budget in December 2021.
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Source: FBC
