Ethiopia-Djibouti railway earns $60.1mil during past Ethiopian fiscal year

Addis Ababa, July 18, 2023 (FBC) – The Ethiopia-Djibouti railway has transported 124,000 passengers and 2.1 million tonnes of cargo during the Ethiopian fiscal year 2022/2023 ending on July 7, earning a total of 3.3 billion birr (about $60.1 million), up 35% from the previous period: latest data.

According to Xinhua, the Chinese-built Ethiopia-Djibouti railway has transported 2.1 million tonnes of cargo during the Ethiopian fiscal year 2022/2023 ending on July 7 with earnings increasing 35 percent from the previous period, an official said on Sunday.

Aminu Juhar, chief corporate strategy officer at Ethiopia-Djibouti Standard Gauge Railway Share Company (EDR), said the 752.7-km rail line also transported 124,000 passengers during the fiscal year.

Juhar said the EDR was able to earn 3.3 billion birr (about 60.1 million U.S. dollars) during the past fiscal year, up 35 percent from the previous fiscal year. The EDR official attributed the increase in revenue to new goods such as vehicles.

It is to be recall that Ethiopia-Djibouti standard gauge Railway has transported 3.4 Million ton of import and export commodities and goods over the last three years.

The railway is said to have improved its efficiency with 25 to 30pct every year since it went operational.

The Ethiopia-Djibouti railway, which is considered as the first electrified transnational railway in Africa, presently provides different kinds of freight services including the transportation of perishable goods, vehicles, cereals and fertilizers at Indode, Mojo, Adama, and Nagad stations.