AU Requests Free Title Deed for MIDROC Hotel

The African Union (AU) requested the Addis Abeba City Administration to grant a 60-year lease free title deed to MIDROC Ethiopia for the 25,000sqm plot upon which it is erecting a five-star hotel in the premises of the AU. The City Administration was discussing the request in its lease board meeting into Friday evening as Fortune went to press. Read More

Inter Global to Explore for Oil in Northeast

An oil exploration request from Texas-based Inter Global Technologies in northeastern Ethiopia has been tabled to the Council of Ministers two weeks ago after a series of negotiations between the company and the Ministry of Mines and Energy (MoME).

Passing of Advisor Postpones Signing of Wonji-Shoa Agreement

The sudden death of Gaweri Parsad, chief technical advisor of JP Mukherji & Associated Pvt Ltd, postponed the Engineering Procurement Construction (EPC) contract that was to be signed between Wonji-Shoa and UTTAM, an Indian-based company, on Thursday. The agreement is expected to be signed on Monday afternoon.

Walia Bus Gets Maintenance Contract for New Chinese Buses

The state-owned Walia Intercity Bus Service Enterprise has been selected to carry out after sales maintenance of the 500 mid-sized buses procured from  China. The government, through Anbessa City Buses Enterprise, has procured the 25-seat capacity buses at a cost of 13.2 million dollars from HIGER Bus Company Ltd.

Ministry Instructs Oil Companies to Supply Blended Fuel

The Ministry of Trade and Industry (MoTI) instructed the six oil supplying companies operating in Ethiopia to supply blended oil in Addis Abeba signing a throughput agreement with Nile Petroleum Co. The Ethiopian Petroleum Enterprise has also briefed these companies on January 9, 2007, to take the oil from the company's Sululta Depot 24Km from Addis Abeba, in the Oromia Regional State.

White Nile’s Oil Deal Comes with $1m Gov’t Bonus

British White Nile signed an agreement with the Ministry of Mines and Energy (MoME) last Tuesday in a bid to explore petroleum in Southern Ethiopia. The company pays a one million dollar signature bonus to the Ethiopian government as well as 200,000 dollars for community development and to train Ethiopian personnel annually.

Driving to Unclear Destination

Mesenbet Firew, 33, and Tewodros Belete, 41 are teachers at a public school in Addis Abeba. They were asked by Fortune on January 17, 2008, whether they have any clue about what the Millennium Development Goals (MDGs) are and what they will bring to the population at large if the ambitious targets are reached.

Ethio-Sudan Power Negotiations to Resume

The Ethio-Sudan Electric Power Interconnection Project negotiations are to resume next month following an over one-year interruption after the two countries failed to reach a consensus on the power purchase agreement.

CGC to Get Glass Input Concession in Northern Shoa

Chinese construction company CGC Overseas Ltd requested an extraction permit for silk sand, a major input in sheet glass manufacturing, in Ejersa town of the Northern Shoa Zone, Oromia Regional State, from the Ministry of Mines and Energy (MoME). According to a Ministry study, there is over one billion tonnes of silk sand in the area and additional deposits in Harar, Dire Dawa, and the Tigray and Oromia Regional States.

Access Capital Becomes Major Shareholder in MA Thermoplastics

Access Capital SC, the new entrant into Ethiopia’s growing financial sector, became major shareholder of MA Thermoplastics & Melamine Ind Plc buying shares worth 15 million Br in the plastic manufacturing company. Access has agreed with a Lebanese company, PRISMA Investments, to give the latter management roles.

Former Anbessa Buses Manager Loses Suit against Enterprise

Haileleul Tadesse, former general manager of Anbessa City Buses Enterprise, lost a court battle against the Enterprise after months of litigation.

City Land Authority Gets New Leadership

The Addis Abeba City Caretaker Administration appointed Mulat Adougna as general manager of the City Land Development and Administration Authority. Mulat took office last Monday along with Yichlal Fenta, deputy general manager, and Daniel Assefa, land development department head.

Customs Delays Yemeni Exhibition Products by Three Days

The Addis Abeba Airport Customs Authority released Yemeni products destined for the Exhibition Centre on Friday after holding them for three days in its warehouse.

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