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Great Millennium Dam moves Ethiopia
The Millennium Hydroelectric Power Project has officially started construction. Prime Minister Meles Zenawi vowed for all Ethiopians to be involved in what he calls "Ethiopia's contribution to the region": a 3.3 billion euro dam, fully financed by Ethiopia. Both positively and negatively, the launching of what is to be the largest dam on the African continent has moved Ethiopians all over the country.
The central bank of Ethiopia issued bonds in order to raise funds for the construction of the Great Millennium Dam. The Labor Union of Sheraton Addis Hotel, one of the luxury facilities in the hospitality business of Ethiopia, announced that its members will buy bonds valued over 800,000 birr. The union has over eight hundred members.
Abreham Hagos, Head of Finance at the labor union told Capital that the members of the union will buy at least two bonds per head valued at five hundred birr each. "This project is one of the most valued milestones in the 21st century Ethiopia, it is a national call, and it needs national response" he said.
In a related development, the workers of Adika Tour and Travel Plc have come to terms with the management of the company to withdraw some portion of their provident fund to buy a bond. The company has 91 staff members.
Ashenafi Zeleke, General Manager at Adika Communications and Events, a sister company of Adika Tour and Travel, told Capital that workers at their companies will buy bonds worth 500,000 birr. "Our company is engaged in the hospitality business which is all about building the image of the nation. Projects such as the one we are engaging with at present will play its part in the effort to change an image. That is why we are part of this endeavor" he said.
There are also reports that many Ethiopians both locally and abroad are buying bonds, and even making commitments in the form of salary cuts and personal donations.
However some see the launching of the dam as a diversion from political turmoil that is raging the Arab world. A mechanical engineer, who wished to remain anonymous, thinks that the introduction of the Millennium Dam at this particular time is a deliberate attempt by officials to divert public attention from politics.
"It is not an attempt to engage the public in an economic endeavor but an action to divert the public mind from what is going on in North Africa and the Middle East to create a safe haven for officials who are fearful about the spill-over effects of the Arab unrest," the person said. "We should make use of what is currently at hand in an efficient and effective manner before we go on to the development of the new one," the engineer added.
Despite these reactions major opposition party leaders endorsed the project and vowed to support the project.
During the launching ceremony of the dam, Prime Minister Meles Zenawi pledged to develop a culture of saving so every citizen will be in a position to buy a bond that will consume a staggering 80 billion birr investment.
The premier said, "If we distribute the cost of the project based on the merit received, Sudan would cover 30 percent of the total cost and Egypt 20 percent. Given the uncooperative stance in the region, Ethiopia is forced to shoulder the burden on its own." He added saying "we Ethiopians want to let others know that this is Ethiopia's contribution to the region's development from its limited resources at hand."
The project is being constructed on the lower basin of Abay River in the Benishangul-Gumuz Regional State and is planned to be completed by 2017 with a generating capacity of 5,250 MW, more than three times of the current actual power generating capacity.
http://grandmillenniumdam.net/great-millennium-dam-moves-ethiopia/
You? are true....!
You? are true....!
Haqika Jegna wedi ...
Haqika Jegna wedi Adey Ethiopiawi? Entehabiru Agatay yeblun.Gena Ethiopiana bi Aetsimti sweatna ktlimlm eya.......
