Eritrea to Purchase US$61 Million In Machinery
Eritrea to purchase US$61 million in machinery
July 29, 2012 (ASMARA) — The Eritrean Government signed two new contracts with China SFECO Group last week, according to the Shanghai-based company.
The agreements were signed in Bejing by Eritrea's Ambassador to China, Mr. Tseggei Tesfazion and vice president of SFECO Group, Mr. Zheng Yufeng.
Under the terms of the contract, SFECO will supply Eritrea with various machinery in the fields of agriculture, mining, transport and infrastructure; worth US$61.54 million. The company will also expand Hirgigo Power Plant.
In a similar purchase from SFECO, Eritrea had bought US$100 million worth of machinery that were delivered through the port city of Massawa last year.
The Chinese company has also been active in Eritrea's mining industry. In late 2011, Australian mining company Chalice sold its existing 60 percent share in the Zara Project to SFECO.
The transaction has SFEOC paying Chalice US$80 million in cash plus an additional sum of up to US$20 million for the area adjacent to the Koka deposit. The deal is expected to be finalized by August 26 of this year.
 |
| Hirgigo Power Plant to be expanded - the plant was inaugurated in 2003 |
 |
| New resorts being built on the Dahlak Archipelago |
 |
| Wind turbine near Assab |
Eritrea to Purchase US$61 Million In Machinery
Reviewed by Admin
on
5:51 AM
Rating:
Reviewed by Admin
on
5:51 AM
Rating:
am an Ethiopian but love to see this because we Ethiopians are your brother and i personally have lots of Eritrean friends living in Ethiopia
ReplyDeleteThat is Ethiopianism..thx.
DeleteThx brother
ReplyDeleteYou're saying that Hirgigo power plant will be expanded in other way i think u meant to say that we will destroy it as for the past 07months starting from march up to now there's no 24/7 supply of electricity in eritrea and this problem has arouse in eritrea since the year 2006 and to the present year. in short what i want to say is that either fix it or stop the electricity supply of eritrea as you're destroying many things by this unpredicted switching off the electric supply as many homes are being burned due to electrical cause and many other home appliances are getting destroyed and don't forget that you're harming the business of meat as they need eletricity to cool the meat not to decay.....................................
ReplyDeleteCassa,
ReplyDeleteWhat a naive comment?
we don't need metal we just need food
ReplyDelete