In a recent statement, the Ethio-Djibouti Railway Share Company (EDR) has announced a significant annual growth of close to 40% in both cargo and passenger transportation capacities. The Chief Executive Officer of the company, Abdi Zenebe, PhD, disclosed these impressive figures while speaking to the Ethiopian Press Agency (EPA).
According to Dr. Abdi Zenebe, the rail freight and passenger transportation segments have experienced remarkable growth rates ranging between 35% and 40% per annum. The rail service, operational for the past five years, has successfully reached its transport capacity, exceeding 2 million tons of cargo. Dr. Zenebe emphasized that preparations are underway to expand the network by adding more railway stations while maintaining the integrity of the existing 20 stations.
Highlighting the significant role the corporation plays in trade facilitation and reducing foreign exchange expenditure, Dr. Abdi Zenebe stated, “Currently, rail transport is playing a pivotal role in strengthening regional connectivity and stabilizing the country’s economy.”
He further announced ongoing capacity-building initiatives with two major Chinese contractors, aimed at doubling the rail transport capacity from 2 million tons to an impressive 4 million tons. The CEO assured that these efforts are crucial for meeting the growing demand and contributing to the economic development of the region.
In addition to addressing power interruptions, the CEO mentioned collaborations with Ethiopian Electric Power and shared the company’s success in reducing misuse of resources and destruction by an impressive 85%, thanks to the involvement of various stakeholders.
Moreover, EDR is actively collaborating with the National Bank of Ethiopia to resolve foreign exchange challenges faced by the sector. Dr. Abdi Zenebe expressed the company’s commitment to working closely with stakeholders to overcome such obstacles and ensure the continued success of the railway services.
By xamse
December 3, 2023
