ICM Wins Bid to construct ET Cargo Terminal

ICM won the bid to construct the new cargo terminal for Ethiopian Airlines located at the Addis Ababa Bole International Airport.

The bid was between the German ICM and a Chinese company and the former won the contract because they proposed the best design and financial offer said Tewolde Gebremariam, Chief Executive Officer. ICM is expected with the well known Varnero Construction firm according to Tewolde.

The new state of the art cargo terminal can handle 1.2 million tons. It is expected that the project will be completed in two sections each with the capacity to hold 600 thousand tons. The first phase of the construction will cost an estimated 110 million Euros.

The project will be financed through a vendor financing scheme. ICM has brought a South African Bank and negotiations with the bank have begun according to Tewolde.
The Ethiopian cargo terminal currently in operation has the capacity to hold 350 thousand tons. It was considered a large space at the time it was initiated, when the airline hauled about 43 thousand tons but it is at capacity at the present with the airline hauling 182 thousand tons he explained.

In related news the bid to construct the Ethiopian Airlines maintenance hangar was won by Chinese company AVIC. The vendor financing project is expected to cost 95 million US dollars and the financing is under negotiation with the Chinese EXIM bank said Tewolde.