Ethiopian Prime Minister Abiy Ahmed and Djiboutian President Ismael Omar Guelleh have discussed ways in which the two neighboring countries can strengthen their economic cooperation, as well as other issues of mutual concern. The two leaders "are committed to capitalizing on existing foundations for mutual prosperity," PM Abiy twitted.
The Ethiopia and Djibouti heavy equipment market size, which was $323.9 million in 2018, is projected to reach $496.1 million in 2026, growing at a CAGR (compound annual growth rate) of 5.6 percent, according to Allied Market Research (AMR).
The Ethiopia-Djibouti electric power transmission was launched yesterday in Djibouti in the presence of Meles
Zenawi, prime minister of Ethiopia and Omar Guelleh, president of Djibouti.
The project is estimated to meet 75 percent of Djibouti’s power demad.
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.
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.
