Two Egyptian construction firms, Arabian Construction Company and al Moyes Base, are set to join the Ethiopian construction sector in a few weeks’ time to engage in road construction and real estate development respectively.
Arabian construction secured the 700 million birr Ethiopian Roads Authority contract to build the road and is expected to sign an agreement with the authority in a few weeks. This will make the company the first Egyptian company to engage in road construction in Ethiopia, a senior official at ERA told The Reporter.
The Hageremariam – Yabello road is a portion of the larger project that will connect Addis Ababa to the Kenyan port city of Mombasa – in congruence with the government’s intentions of utilizing neighboring countries’ ports for transportation import-export goods. The African Development Bank will extend the funds for the construction of this project.
al Moyes Base, the other Egyptian firm, has also acquired consent from the Addis Ababa City Administration lease board to embark on real estate development on a 12-hectare plot. Experts at the Land Administration and Construction Authorization Authority with the city administration are exploring to identify possible locations for the development, an official at the authority disclosed to The Reporter.
According to sources, the city administration is eyeing lands recently repossessed from real estate developers, who the authority claimed did not deliver on their contracts, to be given to the Egyptian firm.
Egyptian investors have been showing growing interest to investing in Ethiopia as of the past two years. It was in accordance with this interest that el Sewedy, an electric cable manufacturer, has already set up operations over a year ago, and another company in the cable business is also under construction near Dukem town. Another Egyptian company is also eyeing a 20,000 hectare land in the Afar region for agricultural production.
By Wudineh Zenebe, Reporter