The Ministry of Industry signed on Thursday Bole Lemi 2nd round Industry zone construction with various contractors. The construction agreement was signed with 14 contractors and a consultant engineer.
Indian mining firm May Flower Mining Enterprise Ltd is to invest $116 million in the Delbi Mining S.C.'s coal mine in south-western Ethiopia, 400 km from here, IANS reported.
Ethiopia has earned 71.6 million US dollars from export of gold supplied to the National Bank of Ethiopia (NBE) by artisanal miners during the first three months of the budget year, Ministry of Mines (MoM) disclosed.
With Ethiopia’s economic growth rate remaining relatively high at seven per cent as well as the government’s request for a sovereign rating, the country is slowly beginning to open up its doors to foreign investors.
President of the Federal Democratic Republic of Ethiopia, Mulatu Teshome has expressed government’s readiness to providing the necessary support to Ayka Addis Textile & Investment Group PLC in the latter’s endeavors to expand its activities in the country.
The Ethiopian Textile Industry Development Institute (TIDI) says it is set to earn $250 million in the current 2006 Ethiopian budget year from export of textile products.
