Other projects
Ethiopia is among East Africa countries that has been ranked to have a fertile land for construction business to flourish. The construction industry in the region is growing and offering a green market through the various ongoing mega projects.
The
largest Airport in Africa
This new airport, which will cover an area of 35 square km, will be built in Bishoftu, a town 39 km south east of the capital, and have the capacity to handle 100 million passengers a year
The Ethiopian Airlines in bole is Africa’s largest airline by fleet size and revenue; however the country’s air infrastructure has not kept pace with its growth. Passenger numbers grew in millions over the past few years and expected to continue increasing by about 18% a year. This new facility would reduce congestion at Bole, Addis Ababa’s present international airport.
Ethiopian airline’s chief executive Tewolde Gebremariam told the Ethiopian Broadcasting Corporation that construction will start in the next six months and that the new airport may be bigger than France’s Charles de Gaulle.
About
Commercial bank
Construction commenced in 2015 under a 5,300,000,000 Ethiopian birr deal with the China State Construction Engineering Corporation. The foundation stone was laid on 27 June 2015. The building was then topped out in the second half of 2019. Cladding work however has been delayed due to the foreign currency shortage in Ethiopia that made it harder for local businesses to fund imports, thus, affected the bank's financial as it still controlled most of the country's banking activities in 2020. The building site is an 18,000 meter plot on Ras Desta Damtew Road in Addis Ababa.
The building will be 198 meters tall with 52 stories, two 5-story podiums, and 20-metre deep underground parking lots. The building design includes 46 above-ground floors, a mezzanine level, a ground floor, and 4 basement levels. The building will have 150,000 square meters of floor area.
Its design includes eight conference halls, an emergency waiting room for disasters, two restaurants on the top two floors, and a sightseeing tower.
About
Meskel square project
Meskel Square is know most notably for the annual Meskel celebration every Sept 27th – long ago it was an actual green square but as more cars appeared on the roads, a junction of vehicles crisscrossing from all directions took precedence.
Today, the area is officially known as the Meskel Square Municipality Rehabilitation project and part of Prime Minister Abiy’s Greening of Addis beautification project. There are around 5,000 Chinese and Ethiopian construction workers were involved. The project contains an artificial lake, moveable trees, artificial lights and a massive underground parking lot to accommodate vehicles (1,400) of anticipated visitors. The design vehicles travelling under the surface of the square leaving the ground level free for pedestrians. The project also includes six LED screens and around 30 retail shops, a library, café and restaurants and statues which are registered by UNESCO highlighting the cultures and traditions of all the nations and nationalities within Ethiopia. It offers both retail and recreation aimed at people of all ages to come and spend the day enjoying their time.
Although the construction has been undertaken by the Chinese, the whole complex design was created by three Ethiopian architects.
About
Addis Ababa-Djibouti railway US $4bn
The 752.7km Ethiopia-Djibouti railway modernization project, also known as the Addis Ababa-Djibouti railway, is the first modern electrified railway line in East Africa.
The project is jointly owned the governments of Ethiopia and Djibouti and constructed by China Railway Group and China Civil Engineering Construction Corporation (CCECC). The modernization is expected to provide landlocked Ethiopia with faster access to the port of Djibouti.
The railway connecting Ethiopia with Djibouti via Dire Dawa is a 780km metre-gauge line opened in 1917. It is the only railway line that connects landlocked Ethiopia with Djibouti Port, a major cargo entry point, but deteriorated due to a lack of maintenance and management.
About
Legehar housing village
Prime Minister Abiy Ahmed launched in the capital Addis Ababa today a private public partnership housing project worth billions of US dollars (50 billion birr in Ethiopian currency.) The project site is the historical Legahar, in heart of the city, and will be constructed on 36 hectares of land, some of which is land from residents in the area who are, reportedly, promised to be given better housing in the same area, according to Ethiopian State media.
When the project is completed, in five to seven years time, Legahar village will have 3 four and five star hotels, recreation centers including cinema, residential apartments, and commercial units and parking facilities.
The huge village project in the capital is a public-private partnership between the government of Ethiopia and United Arab Emirates construction firm, Eagle Hills.
It is also expected to open twenty-five thousand employment opportunities, seemingly mostly temporary ones during the construction stage of the project which is seven years, maximum.
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Ethiopian oil refinery planned as Blackstone pipeline shelved
JOHANNESBURG (Bloomberg) -- Ethiopia’s fast-growing economy has Asian investors lining up to build a new $4 billion oil refinery, even as a Blackstone Group LP-backed fuel pipeline project is shelved.
The proposed 120,000 bopd plant has generated interest from Japanese, South Korean and Indian investors, said Zemedeneh Negatu, chairman of U.S.-based Fairfax Africa Fund. The refinery in Awash, east of the capital Addis Ababa, would import crude through neighboring Djibouti and along a railway recently completed by Chinese state enterprises, he said.
Half of the refinery’s output would be directed to the Ethiopian market, with the remainder exported to neighboring countries in East Africa, according to Zemedeneh. Fairfax Africa has plans to eventually double the plant’s capacity amid industrial expansion and increased demand for motor vehicles.
Ethiopia recorded annual average economic growth of about 10% over the past decade, and the International Monetary Fund estimates expansion at 8.5% in the current fiscal year.
About
Addis tomorrow project
Addis Tomorrow will undertake the economic functions of free trade, international business, technological innovation, and cultural industry cultivation. It is a gathering area for foreign investment and foreign trade, corporate headquarters, and technological entrepreneurship; an image area for modern buildings and new landmarks in cities; and an opening gateway and special test area for linking global resources and deepening international cooperation. At the same time, it will provide preferential policies such as land, foreign currency exchange, financial pilot, government affairs system development, national treatment and market access for enterprises entering the project.
Addis Tomorrow provides high-end, safe, smart, comfortable, and personalized business bases for multinational companies, company headquarters, and international organizations. Equipped with facilities such as international conferences, communication networks, exhibition negotiations, star hotels, financial services, etc., to meet the needs of international business. It will also provide comfortable, high-end intelligence, privacy and security, comprehensively supported high-quality living environment for all enterprises entering the project. We sincerely welcome and look forward to cooperating with you.