PROJECT

Projects

Summary of Investment Information

Project Number

33201

Company Name

TSEMEX HOTELS AND BUSINESS PLC

Date SPI Disclosed

Feb 6, 2014

Country

Ethiopia

Region

Africa

Projected Board Date

Mar 17, 2014

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Previous Events

Approved : May 9, 2014
Signed : Sep 28, 2014
Invested : Oct 30, 2015

Sector

City and Business Hotel

Project Description

The Project consists of the construction and operation of a greenfield 210-key, 11-storey business hotel in Addis Ababa (Federal Democratic Republic of Ethiopia). Upon completion, the Project will be branded “Crowne Plaza” hotel under a full management contract with International Hotels Group (IHG).

The purpose of this investment is to help to address the shortage of hotel rooms of international standards in the capital city Addis-Ababa.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation