Sunday, June 16, 2024
Business Industry inputs enterprise concludes HQ design work

 Industry inputs enterprise concludes HQ design work

The Ethiopia Industrial Inputs Development Enterprise (EIIDE), which was re-established after dissolving the former Merchandise Wholesale & Import Trade Enterprise (MEWIT), concluded the design work for the construction of headquarters within its premises located near the African Union Headquarters.    

Planned to rest on 3,103 square meters of land, the building will occupy 1,740 square meters. The 18-story mixed purpose building is expected to host office spaces for Banking & Insurance services, cafes, meeting halls and a guest house among others. It will also have a four-story basement for parking, gymnasium, a power house, water reservoir, and other facilities.

According to the newly enacted construction guideline by the Addis Ababa City Administration’s Construction Bureau, the enterprise will make 40 percent of the HQ floors for guest houses and residential spaces, disclosed Gutema Kesu, the project engineer at Ethiopia Industrial Inputs Development Enterprise (EIIDE).

The Ethiopian Construction Design and Supervision Works Corporation designed the head office building for 3.5 million birr and expects to manage the consultancy work while the bid for the project contractor will be disclosed come January. The design work was given to the state corporation without bidding via board decision as the Enterprise was threatened with evacuation from the land if it did not start construction within three months.

“The headquarters will enable the Enterprise enhance its capacity to generate income. Moreover, the location is a key destination to expand EIIDE’s services and earn extra incomes,” stated Gutema. It will also save the Enterprise 13 million birr annually in rental costs.

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The design approval is done and the bid to hire a Grade-one national or international contractor will be floated by the end of January. The plan is to finish the foundation work before the rainy season comes, the project engineer told The Reporter.

Gutema also revealed that the Enterprise will use its fixed assets as collateral to get loan from banks to match the already allocated budget for the construction.

Construction of the headquarters is expected to be completed in less than three years. 

The Ethiopia Industrial Inputs Development Enterprise operates 85 branches across the country and is tasked with distributing raw materials for textiles, rubber, reinforcement bars, foam mattresses, detergents, sugar, nails, cash registers, salt, and edible oil to small and medium enterprises, as well as big industries.

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