Ethiopian Roads Authority (ERA) disclosed the construction of Akaki-IT Park (Goro) and Akaki-Lebu asphalt roads has been completed. The roads will connect Ethiopia’s capital with Addis-Adama Expressway.
The Project Manager of Akaki-Lebu, Mr Hu, disclosed the road is currently 27 percent complete.
Tekleberhan Ambaye Construction PLC’s (TACON) general manager, Seifu Ambaye, bought 80 percent of the shares in another construction firm in Ethiopia. The company from which the general manager bought the shares from are Akir Construction PLC and the transaction, according to Fortune, was 16 million Birr.
Akobo Minerals, a Norway based gold exploration and mining company, will start production after three months. The company is expected to generate USD 100 million annually once it becomes fully operational.
The Indian company Akshay Jay Oil, which produces avocado oil at Jimma Industrial Park, is increasing its investment by building a facility to create solid and liquid compost from waste materials. New investors will use the factory, which should be finished in five months, to save the environment.
