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

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email