Nigerian Dagnote to establish 2.7b Br Cement Factory

Dagnote Industries, a subsidiary of the Nigerian Dagnote Group, is to open a cement factory in Ethiopia with an investment capital of over 2.7 billion Br. The company plans to establish the factory in Amhara, Tigray or Oromia regional states. When completed, the factory is expected to create job opportunities for about 200 people. Apart from its engagement in cement production, port operations and transport business, Dagnote Group involves in fertiliser, salt, flour, sugar, pasta and noodle production.

Pensioners Ass’n Lays Cornerstone for New Building

The Metropolitan Pensioners’ Association has won a nearly 2,500sqm plot free of lease from the Addis Ababa City Administration on which a building estimated at 26 million Br is to be constructed. President Girma Woldegiorgis said the government has been striving to enable pensioners to participate and benefit from development activities as he laid a cornerstone on the site of the future building. The building comprises, among others, exhibition centers, halls, a clinic and a library.

Addis-Tarmaber Asphalt Road Launched

The construction of the 173Km Addis-Tarmaber asphalt road has been launched. The first phase, which covers 103Km, starts from the Hayat Real estate site and extends to Legetafo Bridge. The road is 19m wide in cities - including sidewalks - and 12m in width in rural areas. The second phase of construction includes the remaining 70Km which extends to Tarmaber and has a width of 14m - including 2.5m sidewalks on both sides - and nine metres in rural areas respectively. The Chinese Road and Bridge Construction Company and the Chinese-based international contractor, Sinohydro Corporation, are contracted to execute the first and second phase project respectively.

Actis to Enter Ethiopian Real Estate, Construction Sectors

An international investment company, Actis, says it has completed preparations to commence investment in Ethiopia. Paul Kavuma, Actis head of East Africa Private Equity and BCR director, said the company has conducted a study to engage in various sectors in partnership with private and government investors. The company plans to engage in real estate development, cement and other construction materials production as well as in the privatisation sector investing a total of 50 million dollars with prospects to increase. The double-digit economic growth Ethiopia has shown in the past three years has attracted the global company, which has invested 4.6 billion dollars internationally most of which went to Africa, China, India, South East Asia and Latin America.

Egyptian Firm to Manufacture Prepaid Electric Metres

El Swedey, an Egyptian electronic metres manufacturer, and the Ethiopian Electric Power Corporation (EEPCo) have signed an agreement for the procurement of prepaid electric metres at a cost of 88.2 million Br. EEPCo believes the replacement of the time-consuming payment of power bills with the prepaid electric metres by would ease usage and solve various difficulties. The prepaid facility is expected to reach throughout the country following a pilot project in Addis Abeba and Adama (Nazareth). First shipment of the electric metres is expected to arrive in March.

Safi Trading to Export 20,000 Camels to Egypt

Safi Trading and Agro industries, a leading company in the livestock sector, plans to export 20,000 live camels worth six million dollars to Egypt. The company has exported 8,000 camels to the same country in the past two years. Mohamed Mohamud, general manager of the company, said this year’s export would double the country’s foreign exchange. Appreciating the incentives and support accorded by the government, Mohamed noted the lack of serious measures against illegal traders of live animals around frontiers.

Holland Car to Export ‘Abay’ to The Netherlands

Holland Car Plc struck a deal with Hit Zudin Investment BV enabling the export of its ‘Abay’ car to Holland. According to the agreement, Holland Car would present the vehicle to European market. Tadesse Tessema (Eng.), general Manager of Holland Car, dubbed the agreement a dream for the company. It is expecting to receive 6,400sqm of land which will boost the company’s production level to 25 cars per day. Before the launching of Abay’s production in 2007, a car designed by a company called Lifu, Holland Car was known by a car branded Docc.

Radio Fana to Get 10-Storey Headquarters

Radio Fana and Varnero Plc signed an agreement to construct a 10-storey building at a cost of over 40 million Br. Radio Fana’s general manager underscored the importance of such a building for its support towards creating a conducive  working environment. Alberto Varnero, general manager of Varnero Plc, said construction of the building will be launched this year to give it an early completion. The building, which will be erected in the current compound of the radio station situated around Tikur Anbessa hospital, will be finalised within two years according to the contract.