Cal Tech International of the United States is trying to form a sales agreement with the Ethiopian Electric Power Corporation (EEPCO) to invest up to 350 million dollars to generate 350 megawatts of hydroelectric power.

Meanwhile, an Italian company, Enerco Private Limited Company, is also negotiating with the EEPCO to secure a deal between 30 million and 40 million dollars to generate 25 mw hydro or thermal power, the weekly said.

The international interest in making investment in the Ethiopian power industry comes out when the Horn of Africa country is falling into an unprecedented power crisis resulted from the shortage of rainfall.

To avoid the breaking down of the total power system, the EEPCO has to implement rationing program since April. Frequent power cuts have caused considerable economic losses to many business in the country.