Ethio-Djibouti Railway Company Registers Fourfold Growth in Five Years: Board Chairman
Addis Ababa The Ethio-Djibouti Railway’s annual revenue has shown a fourfold growth since its commencement five years ago, Board Chairman and Finance Minister Ahmed Shide revealed.
Speaking at the fifth anniversary of Ethio-Djibouti Railway (EDR) yesterday, the chair said that the company is a critical mega project for Djibouti and Ethiopia and a regional growth model.
“Tasked with operation, maintenance and capacity building, EDR has shown growth in all these areas. Freight carriages have grown 100 percent, carrying 1.9 million tons annually.”
According to him, EDR is playing a significant role in regional integration and in that regard the company has gone far to address the transport and logistics needs of the region.
For him, the railway company is a good example of the flourishing Sino-African relationship that passed the taste of time.
It is a result of the Ethiopia, Djibouti, and China cooperation and the first fruit of the Belt and Road Initiative that China launched, the chairman noted.
Djibouti Minister of Infrastructure and Equipment, Hassan Houmed Ibrahim, said the new railway has been increasing its performance since it became operational.
Railway is an economic and cultural tool that contributes to peace and integration of the people of the region and tourism, he added.
Ethio-Djibouti Railway CEO, Abdi Zenebe said the year-on-year growth of the railway company has surpassed 35 percent over the last five years despite challenges.
On the occasion, he stated that the railway company has been playing a significant role in facilitating trade and movement of people and goods.
Chinese Ambassador to Ethiopia, Zhao Zhiyuan, said EDR is playing a great role in regional integrity.
Despite several challenges, the railway had reached break-even point last year, and started to make money.
EDR is a model of Chinese-Ethiopia cooperation, and an epitome of the Belt and Road Initiative, according to Ambassador Zhiyuan.
Transport and Logistics State Minister, Denge Boru said apart from its regional integration role, the railway mutually benefits Ethiopia-Djibouti and facilitates trade and economic development.
He added that the country plans to move one third of its goods by train by 2030. In order to ensure Africa’s development, the continent must be connected, the minister underscored.
Source: Ethiopia News agency