Arab Contractors is studying a plan to undertake an affordable housing project in Addis Ababa Ethiopia, to see its investments in the country increase to US$111m from two building projects. President and CEO Mohsen Salah has said in a report.
The project will wholly comprise of residential houses of 7, 9, and 12 floors.
“The Arab Contractors Company had last year invested a huge amount of US$ 30m in Ethiopia on similar construction projects,” the company’s president and CEO Mohsen Salah said.
“The company is willing to participate in carrying out Ethiopian development projects, which the government intends to put forward during the current stage,” the CEO was quoted as saying.
Apart from housing projects, the company is also participating in building roads in the region; one being Ethiopian section of an international road that links Cairo and Cape Town. Arab Contractors is expected to complete the project in June 2016. The second road links Ethiopia to Kenya and is now 88% complete.
Ethiopia, which is a fast growing country and has lately launched a number of construction projects, also discussed through its Minister of Transportation Workneh Gebeyehu, with Egypt’s Minister of Housing Mostafa Madbouly of possibilities of having Egyptian companies participating in building roads and airports in the country.
The discussions, which took place at the side lines of 18th Common Market for Eastern and Southern Africa (COMESA) Summit focussed on Arab Contractors building two roads of a total length of 180 km. The also discussed other issues such as participation of Ethiopian technical staff in training courses in Housing and Building Research Center (HBRC) and training centers on construction and building crafts affiliated to Egyptian Ministry of Housing.
