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Yadot Business Group is to invest about 150 million
Br to erect a multipurpose building and drilling
machines assembly plant in Nefas Silk-Lafto District
Lafto Industrial Village.
Yadot received 30,000sqm of land from the Land
Administration of the Addis Abeba City Caretaker
Administration (AACCA) on lease four years ago. It
subsequently invited the United Kingdom (UK)-based
multinational, Dando Drilling International Ltd, to
a joint venture to erect the plant, signing a
memorandum of understanding (MoU) with Martin
Fipchrow, managing director of Dando.
It was in 2003 that Yadot, Dando’s Ethiopian agent
for 16 years, leased the plot for the construction
of the building and industrial plant. Although, the
company planned to construct the structures on the
land leased for 90 years at a price of 410 Br per
square metre, due to the highway project under
construction in the proximity of the site,
redesigning was necessitated.
“The adjacent infrastructure development created the
delay to start the project,” Tesfaye Amberber, the
general manager Yadot, told Fortune.
Yadot, founded in 1991 with 25 million Br paid-up
capital, engages in electro-mechanical engineering,
water well drilling, supplies, shipping, forwarding
and customs clearing. The company has worked on
drinking water projects in Debre Zeit (Bishoftu),
Gondar and Ziway, as well as constructing
rehabilitation and extension water projects in eight
towns in Amhara and Tigray regional states.
“Because of the residential plots in the area, it is
our responsibility to push the company to change its
plans, as we must provide access to the resident’s
houses,” one official from Addis Abeba City Land
Development Administration told Fortune.
Under its plan, Yadot will construct the building
that would house the showroom, commercial centre and
the drilling machines assembly plant in October
2007.
The main building and the structure for the assembly
plant were designed by Wossen Architects for about
300,000 Br, while the construction of both buildings
would be undertaken by Yadot.
To follow the project’s progress and discuss with
Yadot the commencement, Mr. Martin was in the
capital this past week.
Established in 1867, Dando Drilling manufactures
drilling rigs as well as producing other potable
water construction equipment. This multinational is
also involved in activities such as mineral
exploration, water well drilling, geotechnical
investigation and seismic exploration.
Experts from the Ethiopian Investment Commission
told Fortune that, if this project reaches
fruition, the cost of water drilling materials could
decrease.
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