Monday, January 16, 2012

Ethiopian Airlines Awards $100 Million Project to China's AVIC

Ethiopian Airlines has awarded a new maintenance hangar construction project worth 100 million dollars to the Aviation Industry Corporation of China (AVIC) after a competitive bid, according to Capital.
“The maintenance hangar has been awarded to AVIC and we are talking about the financing of the project. We will finance it through loan arrangements with a Chinese bank,” Ethiopian Chief Executive Officer Tewolde GebreMariam told Capital.
The maintenance hangar the Chinese state-owned AVIC will build for Ethiopian is going to raise the number of hangars Ethiopian has to four. According to Tewolde the hangar construction project should commence in the first quarter of 2012 with scheduled completion within 900 days from the start.
A bid inviting firms to compete for the construction of a new maintenance hangar for Ethiopian was issued in 2011 when the carrier launched the multi-million dollar expansion projects. The expansion is aimed at meeting Ethiopian’s vision 2025 that should evolve the airliner into a diversified aviation group.