FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



Domestic Investors to Embark on Coal Plant Projects

Jun 19 , 2021

[ssba-buttons]

Two coal processing plants are set to begin construction in Gurage Zone and Assosa, as announced by Takele Uma, minister of Mines & Petroleum, during foundation-laying ceremonies held three days apart this past week. In the Gurage Zone, the first is a coal washing and processing plant being erected by SUN Mining and Trading Plc, a subsidiary of the Sunshine Investment Group, projected to be finalised in 10 months with a capacity to process 800,000tn of coal annually. The other one in Assosa, being developed by NOC Ethiopia is projected to be finalised in 11 months. The Minister stated that several other companies are expected to join the coal production business in different parts of the country to boost overall production capacity to 2.5 million tonnes annually. Ethiopia spends over 200 million dollars a year on importing coal for cement production and energy generation.

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...

Read more >>

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...

Read more >>

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...

Read more >>