Chinese Firms to Invest $1.75 Billion in Ethiopia Mining, Solar

Ethiopia expects five Chinese companies to invest a total of $1.75 billion in the East African nation, mainly in solar-cell manufacturing and mineral exploration, according to Finance Minister Ahmed Shide.

Shanghai-listed CSI Solar Co., in which Canadian Solar Inc holds a majority stake, will spend $250 million on a plant producing solar modules and energy-storage products, while Sequoia Mining & Processing Plc plans to invest $600 million in coal exploration.