Ethiopia Insight: Oromia to get first-ever tourist city constructed by U.A.E-based Company

Oromia to get first-ever tourist city constructed by U.A.E-based Company

27 January 2007

Addis Ababa, January 25, 2007 (Addis Ababa) - The U.A.E.-based Indus Investment signed a project agreement with the Oromia regional government here on Thursday enabling to construct a tourist city at a cost of 13 billion birr.

Chief of the Oromia State, Abadula Gemeda and Company CEO, Ahmed Hilal Al Falahi signed the agreement.

According to the agreement, the city, the first of its kind in the country, would be constructed on 38,197 hectares of land in Abiyata Shalla area.

The city would have an airport, a school, a business center and hotels, among others.

Abadula said on the occasion that the planned city would significantly contribute in the economic development of the region and the country.

Various incentives have been provided to the company, he said, adding, the company should launch construction immediately.

Al Falahi said after signing the agreement that he decided to invest in Ethiopia due to the encouraging investment situations created in the country. About 12,000 people would get jobs.

(ENA)