Ethiopian Investment Holdings and Great Horn Investment Holding Sign MoU Regarding Oil Facility in DjiboutiPosted on 05/06/2022Ethiopian Investment Holdings and Great Horn Investment Holding have signed a Memorandum of Understanding (MoU) to co-invest in petroleum storage facility in Djibouti. The MoU explores joint opportunities for the development of an oil storage facility in Djibouti’s Damerjog Industrial Park. The new initiative is critically important to ensure a sustainable oil supply to Ethiopia’s oil demand which roughly increases by 10% every year. Great Horn Investment Holding (GHIH) is playing a central role in transforming Djibouti into a major economic hub for East Africa. It was established by Djibouti Presidential decree in 2016, with a fixed capital of 15 billion Djiboutian Francs (US$ 85 million).

Source: Ethiopian News May 06, 2022 22:21 UTC