Speaking at the signing ceremony in Addis Ababa, CBE president Bekalu Zeleke said the bank and the Chinese company were committed to building one of the best structures in the continent.
“Not only the height, but the overall quality of the building, we believe that this will be one of the best buildings in Africa,” he said.
The general manager for CSCEC in Ethiopia, Song Sudong, assured that the project would be a success since his company had successfully carried out similar building projects in China.
The deal was signed after the state-owned bank finally obtained approval from the Office of the Prime Minister to embark on the project, six years after the lender submitted plans to build the headquarters.
The proposed building, which was designed by Henn Architekten, a German firm, was scheduled to get underway in 2011 but that never happened since the bank did not obtain early approval from the State.
The 150,000-sq-m development will comprise a 200 metre tower and two 5-storey podiums, and will be set near the Ethiopia Hotel off Ras Desta Damtew Street in Addis Ababa.
CBE is yet to disclose the actual cost of the building, although sources have indicated that it could cost US$267 million (Sh25 billion).
At the proposed height of 198 metres, the CBE tower is expected to be one of the tallest in Eastern Africa.