Fana broadcasting reported today that Ethiopian Electric Power (EEP) is to build high-power transmission lines and distribution stations in Addis Ababa and its environs at a cost of 98 million US dollars.
According to the report EEP will sign an agreement with the Chinese firm, TBAE Co. Ltd, which enables the latter to carry out the construction of the stations.
More over the power stations to be built by the Chinese firm help to supply power to condominium houses, an industrial park and real estate located at Yeka Abado, Kilinto and Bole Lemi areas, Misker Negash, external public relation director told our source.
He said 85 percent of the cost for the construction of the stations has been secured from China Exim Bank on loan, while the remaining 15 percent will be covered by the government of Ethiopia.
Source: Fana Broadcasting