Shints ETP Garment PLC inaugurates staffs dormitory in Bole Lemi

Shints ETP Garment PLC inaugurates staffs dormitory in Bole Lemi

Shints ETP Garment PLC, an industrial firm from South Korea, located inside the Bole Lemi Industrial Park, has inaugurated its staff’s dormitory and additional floors in the existing sheds constructed inside the park on Friday. Construction of the dormitories and additional floors for sheds amounted $15 million, Harry Choi, General Manager of Shints ETP garment…

Over 320 manufacturing industries curtailed operations

Over 320 manufacturing industries curtailed operations

Melaku Alebel, Minister of Industry said Wednesday that 322 manufacturing industries have curtailed operations due to various predicaments. Previously, 440 manufacturing industries were curtailed operations. “But, 118 companies were resumed productions,” Melaku said. Lack of finance, inputs, deficiency of infrastructure and poor quality, and shortage of foreign currency are among the problems the industries have…

Lemi Cement Factory construction to be completed in 18 months

Lemi Cement Factory construction to be completed in 18 months

Takele Uma (Engineer), Minister of Mines said Friday that construction of Lemi Cement Industrial Complex, a new private industrial park, is going to be completed in 18 months. The industrial complex is located in North Shoa Zone of Amhara region. When starts operation, the factory will have a capacity of producing 5 million tons of…

Authority approves Meta Abo Brewery’s acquisition by BGI Ethiopia

Authority approves Meta Abo Brewery’s acquisition by BGI Ethiopia

The Competition and Consumer Protection Authority (TCCPA) has officially approved the purchase of Meta Abo Brewery by BGI Ethiopia. TCCPA on Wednesday approved the previous agreement between Meta Abo Brewery S.C. from Diageo; a company previously owned UK-based Beverage Company and BGI Ethiopia, to acquire the former. The official transfer of ownership of the Meta…

Ambassador Bacha urges promotion of investments abroad

Ambassador Bacha urges promotion of investments abroad

Ambassador Bacha Debele (Lt. Gen), the newly appointed Ethiopia’s Extraordinary and Plenipotentiary to Kenya, urged Ethiopian Ambassadors across the world to promote investment prospects of the country. Bacha said that significant activities remain to be done to promote industrial park services. The Industrial Parks Development Corporation (IPDC) took newly appointed Ethiopian Ambassadors on a tour…

Ethio Telecom, Safaricom agree to share infrastructure

Ethio Telecom, Safaricom agree to share infrastructure

Ethio telecom, Safaricom Ethiopia Telecommunications PLC and Ethiopian Communications Authority (ECA) conducted a productive meeting and successfully concluded their multi round negotiations on infrastructure sharing and interconnection. ECA and Safaricom will sign agreement soon, according to Ethio Telecom. “These round of negotiations will clear the field for the service Safaricom will launch this year, paves…

Ethiopian investors build first private textile industrial park

Ethiopian investors build first private textile industrial park

Ethiopian investors are constructing the first private textile industrial park in Hawassa town, the regional capital of Sidama Regional State, at a cost of four billion birr, it was learnt. The textile industrial park will have a total of 14 sheds each resting on 11,000 square meters of land. The industrial park will also have…

Tulu Moye Geothermal sign over $100 mln contract with Mitsubishi, SEPCOIII

Tulu Moye Geothermal sign over $100 mln contract with Mitsubishi, SEPCOIII

Tulu Moye Geothermal Operations (TMGO) has signed a contract with consortium of Mitsubishi Corporation and SEPCOIII Electric Power Co. Ltd. to develop energy from geothermal energy in Assela, Eteya, Oromiya on Wednesday. The agreement has a cost of over $100 million. TMGO is one of the first Power Purchasing Agreements (PPA) in Ethiopia. The agreement…

Timely funding, response critical as Ethiopia’s agriculture sector recovers from multiple disasters

Timely funding, response critical as Ethiopia’s agriculture sector recovers from multiple disasters

By Fatouma Seid Agriculture is a source of livelihood for over 80 percent of the population in Ethiopia. However, the sector has faced complex and overlapping threats over the past decade. Since 2019, the country has been responding to the worst desert locust invasion in over 25 years. Although the invasion has subsided, the upsurge…