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African Press Agency - Item

African Press Agency - Item: "APA-Addis Ababa (Ethiopia) Investors from the United Arab Emirates (UAE) on Thursday launched in Addis Ababa a $1.2 billion investment bid to build a tourist resort in Ethiopia, APA learns here.
The investors have signed an agreement with the Ethiopian Oromia State administration to establish the tourist resort, to be located about 175 kilometres east of Addis Ababa.
The Oromoia Regional Commissioner Alemu Semi told journalists on Thursday that the investors have been making preparations to start construction. He said the Enjaz Business group of companies signed the agreement with the Oromia administration since 2007 to establish the resort around the lakes of Abayata and Shala in West Arssi Zone.
According to the agreement, the investors were allocated 38,000 hectares of land to construct the resort.
“Currently, a master plan is being prepared for the resort. Soil research and selection of sites was carried out to start the construction,” Semi said.
The investors received additional 4000 hectares of land to establish a factory meant for manufacturing prefabricated housing units. The construction of the factory will commence in May, the official said.
The proposed modern resort, which will have residential units, schools, sports facilities, recreational and business centers, health institutions and a modern airport, among others, will radically augment the nation’s tourism industry."


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