It was transported to Rome by Mussolini's troops in 1937, and 68 years later, in April 2005, the Italian government decided, thanks to UNESCO's mediation, to return it to Ethiopia. Because of its enormous size, the monolithic stela was cut into three pieces and flown to Aksum in Antonov planes and was deposited in the field of stelae, near its original location, where archaeological digs are being carried out for its installation.

The total project budget of USD$2,833,985, has been provided by the Italian government which also financed the transportation of the obelisk and the related studies undertaken under UNESCO's supervision. The UNESCO release said Lattanzi had begun mobilising its staff and equipment. Work is expected to start in mid-July and continue over a period of 18 months. The obelisk, symbol of the Ethiopian people's identity, dates back 1,700 years.

The remains of the ancient city of Aksum, in the North-East of the country, mark the location of Ethiopia's heart, when the Kingdom of Aksum was the most powerful state between the Eastern Roman Empire and Persia. The archaeological park, with ruins dating from between the first and the 13th century A.D., was inscribed on the World Heritage List in 1980.