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METEC to lose 180,000 hectares of land

METEC, which stands for Metals and Engineering Corporation, was set up in 2010. It is Ethiopia’s largest company, a military-run industrial corporation that has for years had significant influence in the economy. Though there has been some suspicion that the corporation was being used by government elites as patronage it is in these past few months that it has become official. Senior officials of the corporation have been arrested including the former director Major General Kinfe Dagnew suspected of corruption. It was reported that over eight billion birr has been embezzled from the Grand Ethiopian Renaissance Dam (GERD) project by METEC. The corporation was given the work of clearing forest on 123,000 hectares of land that would be a reservoir. But even after receiving payments in the amount of 93 million dollars of the total 193 million dollars, only 37,000 hectares of the land was cleared. After the corporation went through restructuring and was split into two the job of clearing the forest has been given to youth associations from the Gambela and Gonder. It was also reported that the reformation of the project includes audits and reorganizing the work plan. If the new plan succeeds, the dam will be completed within four years.