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Foundry Daily News

09. May 2013

Government of Ethiopia (Addis Ababa)

Djibouti: U.S. $3.3 Billi on Loan for the Construction of Addis-Djibouti Railway

Following the decision of the government of China to finance the Ethio-Djibouti railway project, it was learned yesterday (April 29) that high level officials of China's Exim Bank will arrive in Addis Ababa in the coming days to finalize an agreement between the finance Ministers of both Ethiopia and China.

This would pave the way for the disbursement of the $3.3 billion loan. The loan will be used to finance the 752.7 km railway project that will run from Sebeta to Djibouti's Negad Port.

The project will be constructed in three phases, two of which will be on the Ethiopian side and the other in Djibouti. The railway line that runs between Addis Ababa and Meiso will be constructed by the China Railway Engineering Corporation while the China Civil Engineering Corporation will build the Meiso-Dawalleh route. The construction of the Addis Ababa project has begun with progress being made in the areas of small bridge design and machinery transport.

Source: Opens external link in new windowAllAfrica.com

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