BY HAILE DEMEKE
ADDIS ABABA – Pakistani Ambassador to Ethiopia Shozab Abbas said Ethiopia’s untapped hydropower capacity is instrumental in unlocking the country’s investment potential by guaranteeing the energy demand of large scale businesses.
According to Ambassador Shozab Abba, the mega dam has immense potential to attract anchor companies to Ethiopia’s market and satisfying the robust energy demand of large-scale businesses. Energy is the most important element in the development of a given economy and key to running businesses. In this regard, the Abay Dam would play a critical role to address the energy shortage in the country.
The bulk of energy produced from the mega dam would be exported to neighboring countries and others which lays the foundation for establishing strong regional integration. Accordingly, the role of the dam in unlocking Ethiopia’s investment potential is immense. Ethiopia and Pakistan have been enjoying strong and cordial relationship since 1958 and their multilateral relationship has been thriving in various sectors.
The ambassador further noted that the two countries have a comparative advantage in pursing businesses that Pakistan could be the destination for Ethiopia’s agricultural exports. Ethiopia could also offer untapped investment opportunities for Pakistani companies in the agriculture and agro-business sectors.
Ethiopian Investment Commission Commissioner Lelise Nemesaid for her part that Ethiopia has been producing energy from wind, geothermal, hydropower, solar and other others which will provide dependable electricity for investors. Moreover, upon completion, Abay Dam is expected to generate about 6,500 megawatts of electricity and making Ethiopia to become Africa’s biggest power exporter.
Also, Abay Dam will generate enormous amount of electricity that would significantly satisfy the country’s energy demand. The dam has also huge potential to electrify millions of households in Ethiopia and the Horn of Africa region, she remarked.
THE ETHIOPIAN WEDNESDAY 8 MARCH 2023
