The Ethiopian Electric Power Corporation (EEPCo) signed a USD 120 million agreement with Cambridge Industries Limited, a United Kingdom based firm, to develop what was labeled as the first Sub-Saharan Africa Waste-To-Energy facility. The deal signed on January 4, 2013 at Hilton Addis is for a facility with a capacity to generate 50 Mega Watts (MW) power.

Westin Hotels and Resorts, one of the prominent hotel chains in the world is negotiating to manage the new African Union Grand Hotel which is owned by MIDROC Ethiopia.

Habesha Construction Materials and Development S.C registered over 5 million birr net profit in four months operation from May-June, 2012.

After the failure of the Privatization and Public Enterprises Supervising Agency (PPESA) to fully privatize Ghion Hotel Enterprise, the biggest state hotel, in early August, Aklile Berhan Mekonnen (Prince), who had agreed with the Agency in 2010 to manage the hotel jointly, convey his interest to initiate the deal again.

The government announced on Thursday (September 13th) that it is planning to establish a Petroleum Development Enterprise to develop oil and gas resources in partnership with private companies.

National Oil Ethiopia Plc (NOC), a company engaged in the retail of petroleum and related products, is in the final stages of branching to two of Ethiopia’s immediate neighboring countries; Djibouti and South Sudan, Capital learnt.

The wealth of Ethiopian Born Saudi business tycoon Mohammed Al Amoudi keeps rising. He is now the 63rd wealthiest person according to Forbes Magazine with total assets of 12.3 billion dollars.

After a year of waiting, the Privatization and Public Enterprises Supervisory Agency (PPESA) is moving on and inviting interested parties to jointly invest in the hotel. A September 2010 deal with Aklile Berhan Mekonnen (Prince) an Ethiopian born Italian based investor and PPESA was terminated when he allegedly failed to make good on a promised deposit within six months, Capital learnt.

Derba MIDROC Cement Plc, Ethiopia's biggest cement factory was inaugurated here on Sunday in the presence of Prime Minister Meles Zenawi and other invited guests at aground-breaking ceremony held with in the premises of the factory. The 351 million dollar plant was built by the MIDROC Ethiopia group owned by Mohammed al-Amoudi, an Ethiopian-born Saudi Arabian billionaire who is one of the biggest investors in the Horn of Africa. Derba MIDROC located about 70 kilometers northwest of the capital, Addis Ababa, near Chanch town of Oromia State will produce 8,000 metric tons of cement daily.

Access Capital is under negotiations to sell its 90 percent share of TMGD Trade Works Private Limited Company, manufacturer of Real Springs bottled water, sources told Capital.