- Reuters reports that Ethiopia has signed investment deals for its minerals and energy sectors worth more than $1.7 billion, mostly with Chinese firms.
The Finance Ministry said in a statement late on Tuesday that companies attending a two-day investment conference in Addis Ababa had signed agreements to bring more than $1.7 billion into the country.
The deals signed include a planned $500 million investment by Hua Ye Mining Processing Company in minerals exploration and processing, and the development of a special economic zone focused on minerals, the ministry said.
Another $600 million will come from Sequoia Mining & Processing Plc to develop coal mining projects, while another $360 million will come from Hainan Drinda New Energy Technology to build a solar cell manufacturing plant.
Another $250 million will come from CSI Solar, also for solar energy development, the ministry said. The ministry did not give a timeframe for when the money was expected to come to Ethiopia.
Japanese cell and module manufacturer, TOYO Solar, officially started production at its new facility in Ethiopia last month. The company is scheduled to deliver more than 80 MW of solar cells to customers by the end of this month. Read more
Author: Bryan Groenendaal
