Ethiopia: Qatari Investor Purchases A $100K USD Bond For GERD Construction - Welcome
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Date: Dec18 2020
Ethiopia: Qatari Investor Purchases A $100K USD Bond For GERD Construction
Addis Ababa, December 16, 2020 – A Qatari Investor named Abdellah Salem Suleitin has purchased a 100,000 US Dollars bond to financially support the construction of the Grand Ethiopian Renaissance Dam (GERD).
According to the Ethiopian Embassy in Doha, Abdellah Salem Suleitin who is the owner and manager of the Al Suleitin Group purchased the same amount of bond in 2015.
While receving the bond certificate from Ethiopian Ambassador to Qatar, Samia Zekaria, Abdellah Salem Suleitin expressed wishes for successful compeletion of GERD. He said the dam has paramount significance to downstream countries in many aspects.
Ambassador Samia expressed gratitude to the Qatari investor for his financial support to the dam.
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Benefits of the Grand Renaissance Project
At the completion of the project, the average generation of 15,759 Giga watt hours per year will have a significant contribution to the national electricity system. The contribution of this project will be higher to reach the targets set by the rural electrification villages and to increase the supply from 44% to 90%.
The major components of the project
The Grand Ethiopian Renaissances Dam is being constructed for the purpose of generating electricity with total installed capacity of average annual energy production of about 15,759 GWh/yr.
Discharge rate about 1,547 m3/s.
The reservoir area will cover 1,874 square kilometers at full supply level of 640 meters above sea level maximum amd 590 metres minimum.
It has a 1.8 km length and 145 m height Roller Compacted Concrete dam.
Saddle Dam embankment of length 5.2 km and height 50 m.
The total storage volume is 74 billion cubic meters