His Excellency Dr. Mulatu Teshome, President of the Federal Democratic Republic of Ethiopia, laid the foundation stone, officially commencing the beginning of the construction of the first phase of the Addis-Africa International Convention and Exhibition Center (AAICEC). The Center conveniently and strategically located in CMC, will incorporate a state of the art 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 kinds in Ethiopia and in East Africa both in size and sophistication.
Formed in November, 2012 by 20 shareholders with a founding capital of 10.9 million birr, AAICEC S/C is working hard to build the envisaged Center on 110,116s qm plot of land. The total construction of the Center is estimated to amount to 3 billion birr, of which 1.2 billion birr is for the first phase construction which is commenced just now.
Apart from its technical and financial viability, AAICEC is unique in the field of investment it embarks on. “The Center will be equipped with state-of-the-art venue facilities, which are the first of their type in the country; national significance of the Center is also emmense” Said Ayalew. The center will have multi-faceted national significance especially with regards to attracting many Regional and International conferences and exhibitions. Besides its various National significances, the Center plays a great role in creating huge market opportunities for different service sectors in the country especially for Ethiopian Airlines, Hotels and Restaurants, Transport services, Tour and Travel Agencies, Cultural centers and Souvenir and artifacts producers among others.
The construction of the center has been awarded to a contractor with extensive experience in errecting International Convention Centers in different parts of the world. This is critical in completing the building as per the specific detais of the design and the architecture.
The urge for having an International Convention and Exhibition Center in Addis Ababa has received due support from the Government, the Chamber system and the business community at large.
Industry Projects Service (IPS), a government organization with extensive experience in feasibility studies has conducted a comprehensive research before declaring the project feasible and profitable. “Once the Center is built, it can serve for many years with minor maintenance costs. This makes the project highly profitable.” Added Ayalew, reassuring investors and shareholders on the viability of the Center.
The first phase construction of the center is expected to be completed before within three years time.