Eritrea Purchases $100 million Dollars Worth of Machineries
Eritrea Purchases $100 million Dollars Worth of Machineries
Updated: The amount Eritrea spent on these machineries has been changed from the initial estimation figure of 12 million to the real figure of 100 million. All sources have been updated.
Dec. 08, 2011 (ASMARA) — Eritrea has purchased a total of $100 million dollars worth of modern machineries last week, according to state media.
Some of the new machineries recently bought from China include hundreds of excavators, loaders, compact tractors, fire engines, water tenders (tankers), small and large lorries and dozens of other construction and agricultural related equipment.
The machineries are being introduced to assist local construction firms and farmers on various development projects such as real estate housing, irrigation, roads, bridges, water diversion schemes, as well as playing an instrumental role towards enhancing food security and stimulating job growth.
Eritrea's rapid economic growth, coupled with its strong agriculture sector, has accentuated the need for improving infrastructure. For the next four years, the government of Eritrea targets an impressive 7%-10% GDP growth rate and aims to completely modernize Eritrea's agriculture industry.
With the recent commencement of a $80 million dollar Gedem Cement Factory, a new foam factory and a soon-to-be inaugurated Dahlak Brick and Block Factory, Eritrea has laid the foundations to begin a massive development drive that will propel the economy and decrease housing costs.
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Updated: The amount Eritrea spent on these machineries has been changed from the initial estimation figure of 12 million to the real figure of 100 million. All sources have been updated.
Dec. 08, 2011 (ASMARA) — Eritrea has purchased a total of $100 million dollars worth of modern machineries last week, according to state media.
Some of the new machineries recently bought from China include hundreds of excavators, loaders, compact tractors, fire engines, water tenders (tankers), small and large lorries and dozens of other construction and agricultural related equipment.
The machineries are being introduced to assist local construction firms and farmers on various development projects such as real estate housing, irrigation, roads, bridges, water diversion schemes, as well as playing an instrumental role towards enhancing food security and stimulating job growth.
Eritrea's rapid economic growth, coupled with its strong agriculture sector, has accentuated the need for improving infrastructure. For the next four years, the government of Eritrea targets an impressive 7%-10% GDP growth rate and aims to completely modernize Eritrea's agriculture industry.
With the recent commencement of a $80 million dollar Gedem Cement Factory, a new foam factory and a soon-to-be inaugurated Dahlak Brick and Block Factory, Eritrea has laid the foundations to begin a massive development drive that will propel the economy and decrease housing costs.
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| New Machinery introduced |
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| Hundreds of Machinery introduced via Massawa port |
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| 113 farming equipment |
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| Forklift at the Massawa Foam Factory |
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Eritrea Purchases $100 million Dollars Worth of Machineries
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