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The foundation stone for the Addis-Africa International Convention and Exhibition Center (AAICEC) was officially laid, signaling the start for the first phase of construction. The event on June 3, 2017 was attended by President Dr. Mulatu Teshome as well as other high level government officials.
“This is a unique project as it brings together the government and the business community to invest in one project. It will have a huge effect on the growth of the tourism industry that will in return contribute to the economy immensely,” said Mohammed Nursani, Board Chairperson of AAICEC.
The Center is located in CMC and will incorporate a conference hall, two exhibition centers, an amphitheater, a four star hotel and facilities for restaurants and business centers. According to Ayalew Abey, General Manager of AAICEC, all the facilities of the center are built using state of the art venue technologies, thereby, making the center one of its kind in Ethiopia and in East Africa both in size and sophistication.
Formed in November, 2012 by 20 shareholders with a capital of 10.9 million birr, the center will be built on 110,116sqm of land. The total cost is estimated to be three billion birr, and the first phase of construction requires 1.2 billion birr and three years to complete.
“It’s the first time a center has had these kinds of venues, so the services can have national significance,” Ayalew said. He expects the center to attract many regional and international conferences and exhibitions.
The center is also expected to create market opportunities for service industries like Ethiopian Airlines, hotels and restaurants, transport services, tour and travel agencies, cultural centers and souvenir and artifacts producers.
AAICEC, Industry Projects Service (IPS), a government organization with extensive experience in feasibility studies projects that the center will be profitable.
“Once this is built, it can serve for many years with minor maintenance costs. This makes the project highly profitable,” Added Ayalew.
The four star hotel will be constructed during the third phase. It is not yet known which hotel brand will take over.