The Finance and Economic Development ministry of Ethiopia is seeking financing for the Modjo-Hawassa toll road project from South Korea according to Tilahun Tadesse Director of Governments’ Cooperation Directorate. The ministry expects its request for support to be approved soon because it has expressed the need to acquire funding within a short period he said.
The financing solicited from the South Korean government is substantial said Tilahun declining to disclose an actual sum.
A feasibility study for the construction for the Modjo-Hawassa road is being conducted by the Ethiopian Roads Authority. The study, undertaken by experts from the Ethiopian authority will support a detailed design for the new express way.The feasibility study for the new toll road was commenced in response to the increasing traffic flow between Modjo and Hawassa according to sources at the ERA.
The authority, however, has yet not fixed a date to begin construction in the foreseeable future explain ERA officials.
Ethiopia’s first expressway, the Addis to Adama Toll road, is presently under construction by CCCC, China Communications Construction Co at an estimated cost of 612 million US dollars. The project, financed by the Chinese Export and Import Bank, began in April of 2010 and is expected to be finalized in the beginning of 2014.
The Addis Ababa to Adama expressway is designed for the busiest highway in the country as part of the Addis Ababa to Djibouti route.
Source: Capital
