(East Africa) (2 Minutes Read)
Ethio-Djibouti Standard Gauge Railway (EDR) mobilized Birr 2.5 billion within the past 5 months by transporting 500,000 tons of cargo. The revenue of the company has increased by Birr 600 million when compared with the same period of the past fiscal year.
EDR’s involvement in the country’s cargo transportation also has expanded during the past 5 months. Accordingly, 15% of the cargo transportation was covered by the railway company. EDR was able to cover only 3.8% of the sector during the same period last year.
The company is preparing to transport agricultural products produced by farmers and export items manufactured by investors. EDR will also commence transporting cement, sugar, and gas in the near future.
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https://trendsnafrica.com/france-remains-the-preferred-investment-destination-for-moroccans/
Ethiopia being a landlocked country, has to use the port in Djibouti for its import and export requirements. The railway line to the port of Djibouti has facilitated Ethiopia’s trade with other countries and at the same time accrues more benefits to Djibouti, where there are considerable Chinese investments.
