Mekelle, TIGRAY (ENA) – Sheik Mohamed Hussein Al Amoudi, the renowned businessman operating in Ethiopia, and the Tigray State Administration signed an accord on Thursday that enable the former to launch various investment projects in the state.

Signing the agreement, the owner of sister companies of MIDROC-Ethiopia, vowed to launch various investment projects in the region particularly in mining, leather, and leather products development sectors.

The investment projects due to be launched in the state include, among others, establishment of glass, sugar, and soft drinks manufacturing factories.

The renowned tycoon held discussions with senior officials of the regional government in order to share ideas on trade and investment options that exist in the region.

Chief of the state administration, Tsegaye Berhe said on the occasion the regional government will provide the necessary assistance to the businessman and it is ready to work together with the tycoon.

The regional administration granted 3,000 sq. meter of land to the tycoon meant for the construction of a residence. A street leading to the investment site of the Mekele town was also named after Sheik Mohamed Hussein Al Amoudi.

The chief inaugurated same day a billboard that shows the photograph of Sheik Mohamed Hussein Al Amoudi, as development hero of the town.

Meanwhile, the Tigray State Administration awarded Sheik Mohamed Hussein Al Amuodi the ‘highest martyr’s medal’ for his exemplary deeds in expanding trade and investment in the state.

The tycoon also received a special document containing the signatures of 3,000 women and youth as a gesture for his contributions in development endeavors.

The tycoon pledged on the occasion to donate 50 million Birr in support of the construction of a stadium in the town. He also pledged to re-construct a road that connects Enticho town of Tigray with a locality in North Wollo Zone of the Amhara State, which is said to be the birthplace of the tycoon’s mother.