Ethiopia and Djibouti had inked a deal worth USD 1.55 billion for fuel pipeline with Mining, Oil & Gas Services and Blackstone Group LP-backed Black Rhino Group, Bloomberg reported.
A delegation from the government and the Ethiopian Electric Power Corporation (EEPCO) is scheduled to sign an official and binding agreement with Djibouti tomorrow for the export of electricity.
Ethiopia was exporting electricity to Djibouti on a trial basis for the last four months charging Djibouti 0.70 dollars a kilowatt.
The 65 million dollar project, largely financed by the African Development Bank (AfDB), aims to raise access to electricity in Djibouti to 60 percent by 2015 which was 49.5 percent in 2003.
The Horn of Africa Initiative Finance Ministers and Senior Officials from Ethiopia, Djibouti, Eritrea, Kenya, and Somalia are holding a two-day meeting, focusing on promoting economic integration and regional cooperation, Ethiopia's Ministry of Finance disclosed.
Djibouti, Ethiopia, S. Sudan and Sudan reached on consensus to establish a logistics authority called the Djibouti Corridor Authority (DCA) and a one Stop Border Post development project to expedite the transit of goods and passengers.
Jimma Industrial Park, a 1.5 million square foot (75ha) wide establishment set in place mainly for textile and garment production, is jointly inaugurated by Prime Minister Abiy Ahmed of Ethiopia, Ismail Omar Guelleh of Djibouti and President Omar al-Bashir of Sudan. The three leaders also launched the construction of the 79 km Jimma – Agaro-Dedesa road project, which will be built at a cost of 1.37 billion birr. Speaking on the occasion, Prime Minister Abiy has remarked that, “The two development projects showcase Ethiopia’s strong commitment to transform Jimma and its surroundings towards industrialization.” Lelise Neme, CEO of Ethiopian Industrial Parks
