Ethiopia's metro will be completed soon | Fin24
 
  • Load Shedding Schedules

    Find information for Johannesburg, Durban, Cape Town and other cities.

  • State Wage Bill

    Budget 2020 | Treasury announces three-year R160bn proposal to cut state wage bill.

  • Debt-ridden

    Eskom is cursed with no good choices as it continues to struggle for survival.

Loading...

Ethiopia's metro will be completed soon

Dec 18 2014 18:45
Aaron Maasho

Addis Ababa - Ethiopia expected to complete the Chinese-backed construction of a $475m metro rail system in  Addis Ababa next month, the head of the project said.

The rail system, built by China Railway Engineering Corporation and mostly financed through a loan from China's Exim Bank, is a rarity on a continent plagued by poor transport links.

Beijing is a major partner in Ethiopia's bid to expand its infrastructure, with cumulative investments by Chinese firms reaching well over $1bn, official figures show.

The Horn of Africa country is building a new rail link to neighbouring Djibouti and wants to complete 5 000km of railway lines by 2020. It also aims to almost triple the size of the road network by next year, from less than
50 000km in 2010.

Ethiopia is one of Africa's fastest growing economies, expanding by about 9% a year and attracting overseas investment with its with rock-bottom wages, cheap and stable electricity and transport projects such as the metro.


ethiopia  |  transport
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

#BUDGET2020

Cuts to the public sector wage bill took centre stage at this year's Budget
 

Voting Booth

Do you support a reduction in the public sector wage bill?

Previous results · Suggest a vote

Loading...