Chinese Firm to Supply GERD Turbines

Jan 12 , 2019


Ethiopian Electric Power (EEP) has awarded Voith Hydro Shanghai, a German-based Chinese firm, a 77.9-million-dollar deal to supply, install and test six turbine generators for the Great Ethiopian Renascence Dam (GERD). The firm had previously been working with Metals & Engineering Corporation (MetEC) to supply parts for the turbines. The agreement was signed between the CEO of EEP, Abraham Belay (PhD), and the Vice President of Voith, Tang Xu, on January 10, 2019. “Several measures are being taken to bring the pace of the construction of the dam to its initial condition, and this agreement will help us make up for the mistakes made in the past,” said Abraham. “Voith has been working on several projects in Ethiopia and will collaborate with other companies involved in the project to achieve good quality work in the agreed time frame,” said Tang Xu. This agreement follows contracts made with French and Chinese firms to supply and install 16 turbines at the dam. EEP is now responsible for the project after MetEC was stripped of its management role at the project.


Radar

Standing Committee First Visit to Private Foreign Firm Garners New Era

Safaricom Ethiopia stated that it has become the first private foreign company to host a visit by a standing committee from the House of People's Representatives, with the Democracy Affairs Standing Committee touring the company's operations last week. Wim Vanhelleputte, CEO, presented the company's half-year results, showcasing growth in mobile and M-PESA services. Notable achievements include expanding 4G coverage to 46pc of the population, acquiring over 6.1 million active subscribers, and se...


Radar

Goh Mortgage Bank Registers 12-fold Gross Profit Increase

Goh Mortgage Bank reported gross profits of 83.4 million Br, a twelve-fold increase from last year's 6.4 million Br. At its general assembly last week, the bank announced total deposits of 1.02 billion birr, a 12pc increase from 30,530 deposit accounts, which grew by almost 40pc. Outstanding loans reached 1.55 billion Br, with 60pc directed to the construction sector and 19pc towards export-import activities. The bank mobilized 2.3 million dollars in foreign exchange during the year. Girum Ts...


Radar

Garment Maker Invests 200 million Br in Worker Welfare

Shints ETP Garment PLC, a South Korean enterprise operating inside Bole Lemi Industrial Park, inaugurated a 200 million Br recreational facility and daycare center. This state-of-the-art facility includes a tennis court, basketball court, soccer field, gym, and daycare center, with hopes of enhancing employee satisfaction and productivity. The company currently provides dormitory services for 5,500 workers and primary education for their families and plans to expand its dormitory capacity to 11...


Back
WhatsApp
Telegram
Email