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Home >> Business
UPDATED: 08:05, August 28, 2006
Ethiopia to punish investors failing to construct on land acquired
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Ethiopia's Addis Ababa Investment Bureau said Sunday it is about to take measures against investors who had taken land for investment but had not started construction yet.

According to a news release from the investment bureau, 50 of the 320 investors who had taken land in the industrial zone of the city did not start construction while 50 others are building in ways that are not allowed by the bureau.

These 50 who have not started any construction will have to leave the land while the other 50 who are doing construction in ways not allowed by the bureau will be issued warning letters, the news release said, adding that they will have to demolish and reconstruct.

The areas these investors took for construction are found in the industrial zones of Nifas Silk Lafto and Akaki Kaliti sub- cities.

The city administration is preparing two other industrial zones where land will be given to over 300 investors and priority will be given to textile manufactures and food processors.

Source: Xinhua


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