Turkey will build a railway in Ethiopia

Turkey will build a railway in Ethiopia
As part of its development plan, Ethiopia pressed the button to build nearly 5 kilometers of railway. BRICS countries outside South Africa and Turkey, will build a railway in Ethiopia.

Ethiopia has been negotiating with Brazil, Russia and India for the construction and financing of other lines.

According to the statement made by Getachew Betru, General Manager of Ethiopian Railways, Russia will finance the construction of the 587 km long southern line, which will connect the southern part of the country to the port city of Lamu in the northeast. Brazilian companies will build a 439-kilometer section to reach South Sudan. India is expected to establish a connection with Djibouti.

In Ethiopia, the second most populous country in Africa, 4.744 kilometers of electric railway lines are being built to reduce road traffic. The country will have the fastest growing non-oil production economy in the past decade, and the cost of the new railway will be $ 5.9 billion. According to the International Monetary Fund (IMF) data, this year and next year growth may slow by 8,7 compared to the average growth of 6,5 percent in the last five years.

Within the scope of Ethiopia's five-year national growth plan until 2015, it is planned to lay more than 2 thousand kilometers of railway lines. Chinese companies are currently building a 1-kilometer mainline, from the capital Addis Ababa to Djibouti, which costs more than $ 656 billion.

UNDERGROUND TO PRODUCTION REGION: RAILWAY
Chinese shoe manufacturer Huajian Group announced last year that it plans to invest $ 1 billion in 2 for the construction of a new production zone near Addis Ababa. The China-Africa Development Fund and China-Africa Leather Products invested in a glass factory and tannery near the capital.

Deborah Brautigam, Johns Hopkins University International Development Program Director; He said that the biggest problem of Chinese producers with a factory in Ethiopia is transportation from Djibouti. Getachew, General Manager of Ethiopian Railways; He said the freight cost was reduced 3 times when using rail instead of highway. It is expected that 1.3 billion worth of goods will be transported annually by the new railway. With these figures, the business can become a head-to-head position within 5 years.

It is reported that Chinese companies are also working on connections to potash fertilizer deposits in the northeast of the country, out of the main line.

MEDIUM REVENUE FROM THE PURPOSE
The state-led economy in Ethiopia prevails. Infrastructure investments are prioritized as part of the government's plan to transform one of the world's least developed countries into a middle-income nation by 2025.

It can be said that the fact that Ethiopia has the second largest hydroelectric potential of the continent is the most important reason why electricity is preferred in the railway. In this way, it is expected that fuel imports, which are estimated at 3 billion dollars, will be significantly reduced. Getachew Betru said that the development of the transportation sector and overcoming other bottlenecks can be possible by investing in renewable energy.

Brazil, China, Russia and India, which have a total of 4.4 trillion dollars of foreign exchange reserves, are from the BRICS group. It is said that the political will in Ethiopia is successful in attracting investments from these countries and this will continue.

VISION
Last year, Yapı Merkezi İnşaat ve Sanayi AŞ; He signed a $ 1.7 billion deal to build the railway section between Awash and Hara Gebeya on the Djibouti line. Saudi billionaire Muhammed al-Amoudi's $ 600 million steel mill is located on the route the Turkish company will build.

Murat Haşim Köksal, General Manager of Yapı Merkezi İnşaat ve Sanayi AŞ, said that Ethiopia will borrow from the Turkish Eximbank for the 42-month project. According to Eximbank (export-import bank) rules, contractors have to come from the lender country, and the material must be largely sourced from that country.

Ethiopia is contracting on condition that 60 percent of the fund is provided by Eximbanks in the countries of foreign investors. According to the Chinese and Indian export-import bank conditions, contractors have to come from the lender country, and at least half of the project's input must come from that country.

According to Getachew Betru, General Manager of Ethiopian Railways, the biggest obstacles in Ethiopia's railway construction are mountainous terrain, road design, expropriation and lack of qualified local professionals.

Source : I www.bursadabugun.co

Armin

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