Private Company to Lease Hawassa Park

September 11 , 2020


Private Company to Lease Hawassa Park

Hawassa Textile Factory S.C., to be renovated into a textile and industrial zone, is expected to be leased to a single company upon completion. The factory, which was secured by local investors for half a billion Birr, will be revamped into an industrial zone by Sinoma International Engineering, a Chinese construction company, which also built Dangote Cement Plc and Derba Midroc Cement Plant. The industrial park will have a total of 14 sheds resting on 11,000Sqm. Each square metre will have a lease cost of four dollars for the first year and is expected to increase by a dollar annually. The lease contract will be for a total of 22 years. The textile plant, expected to be completed in 18 months, was first established in 1989 and transferred to Dukem Textile S.C., 60pc of which is owned by foreigners and 40pc by local investors.


Radar

Leather Industry Struggles to Meet Expectations

The struggling leather industry managed a little over 33 million dollars in export earnings over the first 10 months of the financial year. It is less than half of officials' aspirations to generate 69 million dollars over the same period, and highlights the troubles faced by the industry over the past few years. Exports from finished leather goods plunged 72pc last year from three years ago. Only eight finished leather manufacturers accounted for 89pc of last year's export earnings, sh...


Radar

Corporation Calls on Suppliers for 200,000tn Sugar Procurement

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the Ministry of Finance instructed its executives to scrap the invitation and proceed to float a second bid. The shortlisted suppliers have also been invited to take part in the bidding process. T...


Radar

TAGGED

Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...