July 21st, 2010, 11:20 PM
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ATKILT TERA, Addis Ababa | Redevelopment | Proposed
The biggest vegetable & fruit market to be re-developed
The biggest vegetable and fruit market in Addis Ababa located between the two largest market areas, piazza and Merkato, is to be re-developed. Six months earlier, 23 traders at the vegetable and fruit market have established Share Company called ‘Bis vegetables and fruits’, which plans to construct giant twin building at the projected cost of Birr 462.4 million.
The management of the share company request 18 thousand square kilo meter on lease from the city administration.
The share company’s proposal is being previewing from three perspectives. Which are what will be the future of those traders who have been working in the market place, how the compensation of private owners will be made and alternative market for fruits and vegetables during the construction period, are the questions without answers.
It is expected that the share company will have 4,280 share holders.
Wegderese Melese, project study and manager of the share company told The reporter 1,500 individuals at the market place that are land holders, rent stalls and daily laborers have the chance of priority to buy the share.
The company plans to raise its capital from sold share, grants and loans from foreign companies and from Banks as well.
At the market place Fruits, vegetables and Fish that floods in to the city goes to this big vegetable and fruit central market place which some ten thousand people’s income depends on and is thronged by thousands of people in the morning.
The twin buildings are planed to be interconnected under the ground and on the ground. On the second floor of the basement, solid waste processing will be managed and the byproduct will be sold for the purpose of fertilizer and animal feed. And also the first floor of the basement will have the purpose of fruits and vegetable selling areas parking.
The buildings will have museum, restaurant, banks and insurance, cinema, shops and parking plots.
The city administration lease board will announce the decision and the construction of the building is expected to be finalize with in 30 months.
The city admin better approve this plan!