The Addis – Africa International Convention and Exhibition Center /AAICEC/ Share Company has hired an international contractor for first phase of AAICEC construction.
The Company in its press release on a contract signing agreement event held today at Sheraton Addis General Manager with The Addis – Africa International Convention and Exhibition Center /AAICEC/, Ayalew Abay, said that vision for having a World – Class Convention Center in Addis Ababa shall be a reality soon.
The agreement is signed in the presence of major shareholders.
The Chinese company named CGCOC GROUP CO. LTD, one of the top ten international contractors in the world is a contractor of the project.
CGCOC GROUP CO. LTD has been selected through an open international competitive bid floated for the second time on November 13, 2016. Ten renowned international contractors from Ethiopia, China and Dubai have taken part on the tender.
The Share Company exercised a rigorous technical evaluation to identify the winner in the bid process.
According to the press release, the first Phase construction of AAICEC shall cost over 1billion 168 million ETB. The Center is expected to cost over 3 billion ETB to complete the whole phases of construction.
A Three Years time budget is also allocated for the completion of Phase One construction. Universal Consultants, together with its partners, will be responsible for the construction supervision and contract administration.
The Center is designed in a way that can provide services upon completion of Phase One construction. Construction of the remaining two Phases shall also follow parallel to operation of the Center in Phase One facilities.
AAICEC will be the first in its kind in Ethiopia and in East Africa as well.
The construction of this long awaited world – class venue is financed by the Company’s shareholders in which, the Addis Ababa City Administration, the City Chamber and the Ethiopian Diasporas living in South Africa, take a leading role.
Shares are currently on sale and open for all Ethiopians living both at home and abroad, Walta learnt.