Hikma, a Jordanian pharmaceuticals company, has formed a joint venture with Sheikh Mohammed Hussein Al Amoudi's MIDROC Group to manufacture, market and distribute pharmaceutical products in Ethiopia, Reuters reported.
The two groups will contribute up to US$22.3 million each to create the joint venture, HikmaCure.
Homa Construction PLC, company incorporated in Ethiopia, has received mining license for limestone and gypsum from the Ministry of Mines, Petroleum and Natural Gas. The license grants the Homa to mine the minerals for 20 years with the possibility of renewal up to 10 years.
Industry and Investment Bureau of Amhara region disclosed that investors from Hong Kong will take over the Bahir Dar Industrial Park.
After setting their dispute amicably, Horizon Plantation PLC, one of the companies under MIDROC Investment Group, has effected 174.5 million Birr payment to the Government of Ethiopia. The payment is part of the unsettled 1.4 billion Birr Horizon owes to the Ministry of Public Enterprise following a privatization deal.
Horizon Plantations Ethiopia Plc intends to double its annual revenue from coffee projects by three years time.
