(HornTrade) – The Ethiopian Railway Corporation and the China Engineering Construction (CCECC) signed an agreement for the construction of an electric railway line between Me’eso-Dire Dawa-Dewale, a region which lies in the eastern part of Ethiopia, on the 16th of December.

HornTrade – The Sh75 billion Lake Turkana Wind Power consortium—the largest single private investment in Kenya’s history — will earn Sh26 billion (€200 million) over its lifespan, the sponsors have said.

The plant has been registered with the United Nations Framework Convention and the income will be shared with the government and the community.

It is expected to start producing 50 megawatts (MW) of electricity in the last quarter of next year and reach full production capacity of 300 MW three years later. Read the rest of this entry »

(HornTrade) – Ethiopia signed an agreement with a Chinese state-run firm to build the final section of a railway line that will link its capital Addis Ababa to the tiny Red Sea state of Djibouti, an official said.

The deal signed late on Friday with the China Civil Engineering Construction Corporation (CCECC) covers a 339-kilometre line that will join another project to connect the capital with Djibouti.

“This agreement is a contract to construct between Mieso, which is half way from Addis Ababa, to the Djibouti border,” Getachew Betru, general manager of the Ethiopian Railways Corporation, told Reuters. Read the rest of this entry »

(HornTrade) – Djibouti on Tuesday agreed a $36 million loan to build a new port and expand the business upon which the tiny country’s economy relies, a government minister told Reuters.

Djibouti serves as a port for its landlocked neighbour Ethiopia, which accounts for about 70 percent of traffic.

“The port project of Tadjourah aims to decongest the current Djibouti-Ethiopia corridor including the port of Doraleh, whose traffic continues to grow since it opened on February 7, 2009,” Amarah Ali, budget minister, told Reuters. Read the rest of this entry »

(HornTrade) – India has allowed shipment of 10,000 tonnes of non-basmati rice to Horn of Africa at prices lower than market rates, according to an official notification issued on Monday.

“Export of 10,000 tons of non-basmati rice to Horn of Africa (Kenya, Somalia & Djibouti) from Central Pool Stock of FCI (Food Corp. of India) at economic cost of 20,689.50 rupees per tonne shall be permitted,” directorate general of foreign trade said in a notification on its website. Read the rest of this entry »

(HornTrade) – The administration of Ismael Omar Guelleh in Djibouti has plans to build what will be the largest ship maintenance yard for East Africa and on the Red Sea corridor at a projected cost of 400 million dollars. Yet, experts in charge of developing the project have to choose the site for the project between the north coast of Djibouti (around Tajourah) and the country’s south coast, around Damerjog. Read the rest of this entry »

(Horntrade) – The Head of State, Mr. Ismail Omar Guelleh, today presided over the inaugural ceremony of the subsidiary of the Exim Bank in Djibouti, in the presence of the First Lady, Kadra Mahamoud, the Prime Minister Dileita Mohamed Dileita, and members of the government.

In addition to the Chairman of the Board of Directors of the Exim Bank Djibouti, the economic and financial players in the country, as well as ambassadors and representatives of the diplomatic corps and international organizations also took part in this event. Read the rest of this entry »

(HornTrade) – The Ethiopian Petroleum Enterprise awarded a 29.5 million US dollar contract to Huyton Inc Company. The contract is for the supply of coal to realize Ethiopia’s plan to use coal as fuel in cement factories.

The contract to be signed next week is for the import of a minimum of 650,000 tons of coal every month beginning from next month, for one year.

Three companies responded to the invitation to bid for the supply of coal. The companies were Wibyan, (Indonesian company), HMS Bergbau (German Company) and Huyton. Read the rest of this entry »

(HornTrade) – Inflation in Djibouti accelerated to 6.5 percent in October as health costs and the prices of some foods increased, the Department of Statistics and Demographic Studies said.

The inflation rate climbed from 4 percent in September, the Djibouti City-based agency said in an e-mailed statement today. Prices rose 0.5 percent in the month, it said. Health costs advanced 2.7 percent, as prices of vegetables jumped 7.3 percent from September, it said. Read the rest of this entry »

(HornTrade) – Djibouti City: Djibouti’s government said it plans to build a 20-megawatt wind farm and a desalination plant within the next two years in a 20 billion-Djiboutian-franc (Dh415 million) project that will be financed by the European Union.

The power plant is expected to be completed by the end of 2013 and will power the water facility that is scheduled to be commissioned in 2014, Almis Mohammad Abdullah, head of external financing in the Economy, Finance, Industry and Planning Ministry, said after talks with an EU delegation on Wednesday in Djibouti City, the capital. Read the rest of this entry »