The Ethio-Djibouti Railway (EDR) has announced its plan to increase its annual freight turnover capacity from two million to six million within the next five years. An additional goal on the company's agenda is a rise in revenue from Birr three billion to eight billion annually.
The International Development Association (IDA) has awarded a USD 730 million grant to the Horn of Africa Initiative's Regional Economic Corridor Project to enhance the Addis-Djibouti corridor, a vital trade route from Ethiopia to the port of Djibouti.
The Ethio-Djibouti railway has seen a significant increase in revenue in the 2022/2023 fiscal year, earning Birr 3.3 billion. This is a 35% increase from the previous period. The railway transported 2.1 million tonnes of cargo and 124,000 passengers during the year.
Four brand-new Airbus A350-1000 aircraft will be powered by Trent XWB-97 engines thanks to a Total Care servicing contract negotiated by Rolls-Royce and Ethiopian Airlines. According to the deal, Ethiopian Airlines will have predictable costs for the servicing and upkeep of the engines. The agreement was inked while Ethiopian Airlines was present at the Derby, UK, office of Rolls-Royce Civil Aerospace.
Ethiopian Airlines and Customs Commission have signed an agreement to improve their services for the increasing number of passengers and goods. It is expected that the agreement will enhance customer service for Ethiopian Airlines and enable the Customs Commission to provide faster and more reliable services. The agreement is also important for controlling prohibited and restricted goods and ensuring transit goods are handled appropriately.
