Skip to main content

Ethiopian News Main Image

The restart of stalled construction of Adey Abeba Stadium in the heart of the capital hinges on the disbursal of financing from the UAE secured by the Prime Minister, according to the Minister of Culture and Sport.

Minister Kejela Merdasa told Parliamentarians this week that the Prime Minister became involved in the project after failure to pay the initial contractor on the project, China Construction Design Corporation, led to the termination of its contract and the ensuing drying up of funding for the mammoth construction project in Bole Sub-city.

Kejela said the PM had secured pledges for financing to finalize works on the stadium, which was initially slated to cost four billion birr when work began eight years ago. Cost estimates have more than doubled since.

The report Kejela was presenting to Parliament revealed that sponsors, in collaboration with the Prime Minister, dispatched a team of experts to initiate a portion of the construction. Upon their return, the Ministry hired MH, a consultancy firm, to float an international bid for the remaining construction work organized in three lots.

Five international contractors submitted technical and financial proposals. The minimum offer of USD 64 million is likely to win the contract, sources disclosed to The Reporter.

– Advertisement –

“It’s possible to conclude that the amount expected from the UAE funding pledge is 64 million dollars,” said the source.

The Ministry managed to retrieve over 400 million birr in payments made to the Chinese contractor before the contract was terminated, according to the nine-month report presented by Kejela.

These developments signify a significant step forward in the endeavor to bring Adey Abeba Stadium to fruition, highlighting the collaborative efforts between domestic and international stakeholders in advancing Ethiopia’s sporting infrastructure.

Partner experts have diligently reviewed proposals from three organizations, forwarding them to the concerned financier for decision, underscoring the thoroughness of the evaluation process.

The government wants to see the construction of up to six international standard stadia in the country over the coming five years in its ambitions to host the Africa Cup of Nations. A committee has reportedly been established to develop a roadmap for the preparations.

#Adey #Abeba #Stadium #Construction #Restart #UAE #Funding #Solicited

Source link


Author admin

More posts by admin

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.