Friday, July 19, 2024
PoliticsMega power, highway projects worth USD 6.5Bin approved for PPP

Mega power, highway projects worth USD 6.5Bin approved for PPP

The newly instituted Board of the Private and Public Partnership (PPP) has approved 17 major hydropower and highway projects, costing USD 6.5 billion for private sector involvement under the newly drafted PPP framework, The Reporter has learnt.

Teshome Tafesse (PhD), director general of the Office of PPP with the Ministry of Finance and Economic Cooperation (MoFEC), has briefed both The Reporter and Ethiopian News Agency (ENA) today that a total of 3000 megawatt generating hydro and solar power projects will be developed in partnership with foreign private companies at an estimated cost of USD 5.3 billion.

In addition to that, three major expressway road projects that could link the Somali Regional State with Oromia Regional State have also been approved for future development under the new PPP framework. According to Teshome, a total of 357 kilometer road network stretching across Adama-Awash for 125km, Awash-Miesso for 72km and from Miesso to Dire Dawa for a distance of 160km are expected to be some of the projects to be develop under the PPP framework. The totality of the road project will cost USD 1.125 billion, which is to be shared between the government and interested companies in the spirit of private-public partnership.

Back in 2017, the government has instituted a PPP board chaired by MoFEC and comprising seven other ministries and two representatives of the private sector designated by the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA).

Prior to the formation of the PPP Board along with the directorate general office which handles the day-to-day operations, a policy document, a governing proclamation and a directive have been issued to mandate the PPP framework to deal with mega projects.

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