M a r k e t N e w s
Chinese Company to invest in East Africa's Gas extraction
Posted on : Wednesday, 16th September 2015
A Chinese company engaged in natural oil gas exploration with a capital of five billion USD in Ethiopia is expected to produce 40 billion gallon gas after three years.
President Dr Mulatu Teshome held talks with Chinese Poly Technology Company Vice President Huang Geming at the National Palace yesterday.
President Mulatu said the relationship between Ethiopia and China would help attract more huge companies into Ethiopia.
The people-to-people, party-to-party as well as government-to-government relations are very strong and Chinese companies have been contributing a great deal to the rapid economic growth of Ethiopia, the president noted.
President Mulatu appreciated the company for also engaging in construction, mineral exploration and other investment sectors, including power, in Ethiopia.
The Company Vice President said on his part Ethiopia and China are very friendly countries.
A pipeline that connects Ogaden to port of Djibouti is under construction to export the gas to Europe and others nations, he said.
Source : allafrica.com
