MIDROC Breaks Ground on a Second Sheraton-branded Hotel
Construction has started on a new Sheraton-branded hotel inside the Sheraton Addis compound, with DEZACON Construction as builder and ZIAS Architecture & Engineering as designer. ORC & SHC are consultants, and ELIMI is the contractor. The International Finance Corporation (IFC), the World Bank Group's private-sector arm, has disclosed proposed financing of up to 80 million dollars for MIDROC Ethiopia Plc to support both projects. The total estimated cost is up to 116 million dollars, with the financing designed to provide longer-term forex funding. Construction has started on a second Sheraton-branded hotel inside the Sheraton Addis compound.