Djibouti October Inflation 6.5% as Health, Food Costs Increase

(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 »

EU aid for Djibouti desalination facility

(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 »

Ethiopian Electric Power to Build Six Wind Power, One Geothermal Plants

(HornTrade) – The Ethiopian Electric Power Corporation (EEPCO) plans to construct six wind power projects and one Geo Thermal Power Plant, according to Capital. The new projects will have a capacity of 1,015 Mega Watts (MW) power.

The project includes the 300 MW Ayisha Wind Farm located in the Eastern part of the country, near the border with Djibouti, the 100 MW Debre Birhan Wind Farm situated about 120 kms north of Addis Ababa, the 100 MW Assela Wind Power  Project,  125 km South East of Addis, and the 153 MW Adama II Wind Power Project. Read the rest of this entry »

Djibouti: Total convicted to pay 204 million euros

(HornTrade) – The oil company Total was sentenced to 200 million euros in damages and four million euro fine by a court of Djibouti in a matter of oil pollution of the harbor. Another company was also convicted, it is Oil Libya.

Oil leaks are discovered in 1997 during expansion of the port of Djibouti. These leaks come from an old network of pipelines that date from the 1940s.
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Djibouti Telecom’s big dream for African telecommunications

(HornTrade) – Although Djibouti Telecom hails from one of the smallest nations in Africa, the company has big plans to increase their customer base, by rolling out plans to become the gateway to Europe. They are currently the only telecommunications provider in Djibouti, but have a lot more to offer their surrounding neighbours.

Djibouti Telecom has big plans for the future of East Africa’s telecommuncations. Read the rest of this entry »

Ethiopia, Kenya sign $743 million road corridor project

(HornTrade) – Ethiopia and Kenya have signed a $743 million deal to construct a road network connecting the two neighboring countries.

The Addis Ababa-Nairobi-Mombasa road project, which is an important part of the Trans-African Highway corridor will further interconnect the two east African countries with the rest of eastern and southern Africa.

The road project covers over 880 kilometers and is expected to be completed in three years. It will be financed by a loan grant Read the rest of this entry »

Ethiopia to sign Agreement with Djibouti to use Port for Coal Import

(HornTrade) – Ethiopia is to sign an agreement with Djibouti next month for the use of its Port to ship in and unload coal that the Ethiopian Petroleum Enterprise (EPE) plans to import to be used as fuel for cement factories.

Yigzaw Mekonnen, director general of EPE and Mekonnen Abera, head of market research and business promotion of the Ethiopian Shipping & Transit Services Enterprise, (EMTSE) were in Djibouti last week discussing the terms of the deal with Aboubaker Omar Hadi, the chairman of the Port. Read the rest of this entry »

Djibouti Will Spend $19.6 Million to Develop Geothermal Power

(HornTrade) – Djibouti plans to spend $19.6 million over the next two years exploring for geothermal-power sources as the Horn of Africa nation seeks to address an electricity shortage, Energy Minister Ahmed Fouad Ay said.

The project will be funded by the Global Environment Facility, an independent organization that provides grants to developing countries, as well as the World Bank and the Organization of Petroleum Exporting Countries, Ay told reporters yesterday in Djibouti City, the capital. Drilling is expected to be completed by 2013, while the country intends to develop a 56- megawatt geothermal power plant by 2018, he said.

“The commissioning of a geothermal power-plant will help Djibouti switch to green energy in less than a decade,” Finance Minister Ilyas Dawaleh Moussa said at the briefing. Read the rest of this entry »

Ethiopian Oil Company to Launch Operations Regionally

(H0rnTrade) – National Oil Ethiopia Plc (NOC) is exploring the launch of operations in the East African Nations of Southern Sudan and Djibouti. NOC will install fuel stations and depots to provide complete oil retailing services in these countries, once a final decision has been made.

“We have only a plan and we are only exploring business opportunities in these countries. We are not sure whether we will be entering these markets or not” said Tadesse Tilahun, CEO and shareholder of NOC. The CEO explained that NOC is just investigating business opportunities in neighboring countries and has not made a final decision to enter the regional markets. Read the rest of this entry »

Earth Heat Operations In East Africa

(Horntrade) – Djibouti – resource review due February 2012

Earth Heat has operations in several African countries as well, and continues to explore value-adding options for taking its Fiale Geothermal Project (Fiale) forward, which is located in Djibouti.

The company is already eyeing one or more potential joint venture partners, with commercial negotiations to continue and no particular outcome is certain.

Marshall added, “The company has really taken some major steps in undertaking this large project by introducing potential Joint Venture partners and we work diligently to bring such discussions to a conclusion. Read the rest of this entry »