Russian Company Eyeing to Invest in Ethiopia's Energy Sector

Major Energy Company of Russia keen to invest in Ethiopia, Ministry of Foreign Affairs said.

The Ministry disclosed that one of the major energy companies in Russia, Energy solutions, electro technical holding company ERSO, has shown interest to invest in the energy sectors of Ethiopia.

Ethiopian Embassy in Russia has briefed investment opportunities in the Energy sector in Ethiopia for company's management recently that led by Mr. Goran Malbasic.

"The Ethiopian Embassy in the Russian Federation had a very fruitful and productive discussion yesterday with Goran Malbasic, CEO of ERSO Energy solutions, electro technical holding company with global presence (ERSO) on investment opportunities in the Energy sector," ministry said.

"ERSO is one of the most respected company having100 years of service in the energy industry, excel in specialized supplies, servicing and exporting of high, medium and low voltage power generation distribution and transmission equipment which include distribution transformers, power reactors and renewable energy solution," as to ministry.

The company's profile states that ERSO is a diversified integrated company focused on complex equipment and implementation of new construction projects, reconstruction and modernization of energy facilities, it revealed.

The group of companies includes 4 production sites, its own design and research institutes, a design office, service and testing centers.

It is recalled that the government of Ethiopia and Russia has signed deal a few years ago to develop nuclear energy for Ethiopia to be used for medical and other non-military applications.