Tuesday, September 23, 2014

Chinese invested urban complex project starts in Ethiopia's capital

(Sep 23, 2014, (Xinhua))--Poli Lotus International Center, the first urban complex project in Ethiopia developed by Chinese investment, was opened on Monday in Ethiopia's capital Addis Ababa.

The project executed by Tsehay Real Estate, which is co- invested by the China's CGC Overseas Construction Group (CGCOC) and Chinese investor Qian Xiao, includes public and residential buildings in function layout. The 1.5-million-U.S.-dollar project covers an area of 200,000 square kilometers, and is expected to finish in 2017.

The public building comprises high standard hotel, international A grade standard office, supermarket, banks shopping center and pedestrian commercial street. Cutting the ribbon during opening ceremony, President Mulatu Teshome noted that the project enables to provide modern and efficient services to all its urban dwellers and the international community at large.

"This project, which is being undertaken and labelled as Poli Lotus International Center, is one of the most successful urban developments to bring efficient building construction technology and knowhow, thereby facilitating the smooth transfer of construction technology to Ethiopia," said the president.

"The size and quality of this investment, made by Chinese company, reflects the long-standing excellent bilateral relations between Ethiopia and China," he added. Chinese Ambassador to Ethiopia, Xie Xiaoyan, said at the ceremony that the project is a new concept that would bring new life to the city. Read more from  Xinhua »

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