Engineer Daniel H/Michael has been appointed as the CEO of Ethio-Djibouti Railway (EDR).
Previously serving as the Chief Technical Officer of EDR, Engineer Daniel H/Michael has now taken on the role of acting CEO.
This appointment was made by the Chairman of the Board of Ethio-Djibouti Railway, Minister of Mines Habtamu Tegegn.
He replaces Abdi Zenebe, the former CEO of the Ethio-Djibouti Railway Joint Stock Company and the reason for Abdi Zenebe’s departure remains unclear.
In the past nine months, the Ethio-Djibouti Railway Transport Joint Stock Company has earned over 2.4 billion birr from passenger and freight services.
The railway provides transportation services for 700 to 1,000 people daily and has transported more than 155,000 passengers and 1.4 million tons of cargo, achieving 98 percent of its target.
This railway is crucial for the country, handling 13 to 15 percent of Ethiopia’s import and export goods.
Since January 2024, the management has been focused on creating a comfortable environment for rail transport and working in coordination with relevant parties to increase the capacity for transporting goods and passengers over the next three years.
With over 1,000 trains providing various services, the Ethio-Djibouti Railway is a significant contributor to Ethiopia’s economic development by facilitating the transport of goods and people.
The Ethio-Djibouti railway line, which started operations in 2018, has brought numerous political, economic, and social benefits by connecting citizens of both countries.
In the same period last year, the railway earned three billion birr. Spanning 752 kilometers, the Ethio-Djibouti railway line has been providing passenger and freight services since January 2018.
The project, which cost $3.4 billion, was funded 70 percent by a loan from the Chinese government and 30 percent by the Ethiopian government.
Additionally, the World Bank has provided $730 million in financial support for the Ethio-Djibouti railway line.
In August, the Ministry of Finance and the World Bank signed a $730 million support agreement for the African Regional Economic Corridor Project (Ethio-Djibouti Corridor Project).
This project aims to enhance Ethiopia’s logistics and communication capacity, linking to the strategic Addis Ababa-Djibouti corridor, which accounts for 90 percent of Ethiopia’s import and export trade.
As part of the agreement, financial support will be provided for constructing the Me’eso-Diredawa road.
The Ministry of Finance announced that this construction would increase the capacity and efficiency of transportation, further bolstering Ethiopia’s economic infrastructure.
