Ethiopian Builder Sees Revenue Doubling on Infrastructure Spend

12 October 2012

Bloomberg Business Week - Sur Construction Plc, a construction company with ties to Ethiopia’s ruling party, expects to almost double revenue this year as the state boosts investment in infrastructure, General Manager Tadesse Yemane Hailu said.

The Horn of Africa nation, the continent’s second-most populous country, plans to spend 144 billion birr ($7.9 billion) in the current fiscal year that ends on July 7 on industries including transport, telecommunications, energy and housing in the third year of a five-year industrialization plan. Revenue may grow to 2.3 billion birr from 1.3 billion birr last year as the state invests in projects including the Grand Ethiopian Renaissance Dam, set to be Africa’s biggest hydropower plant.

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Categories: Energy, Transport, ICT, General

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