Japan Tobacco International paid 510 million USD for the purchase it made for the 40 percent stake it acquired in the National Tobacco Enterprise (NTE). The payment was made for Ethiopia’s government on July 15, 2016.
Tomonius Corporations Ltd, a Japanese company, signed Memorandum of Understanding (MoU) with Ethiopian Investment Commission that will enable it to construct a Japanese owned special zone in one of Ethiopia’s industry parks, Bole Lemi II Industrial Park.
Following tender floated by Ethiopia’s telecom monopole, Ethio Telecom, the Japanese company Nippon Electric Company, Ltd. (NEC) has become the latest firm to participate in the bid.
Hiroki Co. Ltd, a Japanese-based leather producing factory, is set to commence production at its plant located in Ethiopia in mid-March, Fortune reported.
Bishoftu town of Oromia Regional State inaugurated Jebdu Motors Co. Ltd., a company which manufactures tools for agricultural production. The company has a capital of Birr 133 million and produces irrigation pumps among other agricultural equipment.
After the company was inaugurated, 16,803 water pumps of different sizes were distributed to farmers. Jebdu Motors is expected to create job opportunities and replace imported products.
Another town near Bishoftu, Modjo, welcomed YTO-CAMAC, the biggest tractor manufacturer in China this month. The tractor manufacturing company will become operational in 2015 E.C. and produce 10,000 tractors annually.
Source: Addis Zemen
Image source: Oromia Bureau of Agriculture
