Dejen Media (Agust 2) — The Ethio-Djibouti railway has achieved a significant profit during the Ethiopian fiscal year 2022/2023. According to an official statement reported by Xinhua, the Chinese-built railway successfully transported a staggering 2.1 million tonnes of cargo and 124,000 passengers throughout the fiscal year.
Aminu Juhar, the Chief Corporate Strategy Officer at Ethiopia-Djibouti Standard Gauge Railway Share Company (EDR), revealed that the railway managed to generate substantial earnings of 3.3 billion birr (approximately 60.1 million U.S. dollars) during the same period. Impressively, this revenue marked a remarkable 35 percent increase compared to the previous fiscal year. Juhar credited the boost in earnings to the introduction of new goods, including vehicles, in the cargo transport services.
The Ethiopia-Djibouti standard gauge railway, also known as the Addis Ababa-Djibouti railway, has been a transformative project contracted by China Rail Engineering Corporation and China Civil Engineering Construction Corporation. Its commercial operations for both passenger and freight services commenced in January 2018, playing a vital role in connecting landlocked Ethiopia to key ports in the Red Sea nation of Djibouti.
The railway’s performance during the past fiscal year underscores its significance in facilitating trade and transportation, and further solidifies China’s involvement in infrastructure projects in the region. As the railway continues to play a crucial role in the economic development of Ethiopia, observers will closely monitor its future impact on regional trade and connectivity.
Earlier this year railway’s anniversary celebration of the 752-kilometer transnational Ethiopia-Djibouti railway brought together senior Ethiopian and Djiboutian government officials, the Chinese diplomatic community in Ethiopia, and management contractors at the Lebu Railway Station, located on the outskirts of Addis Ababa, the Ethiopian capital.
During the occasion, Ethiopia’s Minister of Finance, Ahmed Shide, highlighted the achievements of the railway over the last five years. He emphasized the railway’s impressive progress in the areas of operation, maintenance, and capacity building, solidifying its significance as a vital transport link connecting Ethiopia and Djibouti.
