Chinese Firm to Supply GERD Turbines

Jan 12 , 2019


[ssba-buttons]

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

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...