China Extends 100 million Yuan for Railway Academy in Ethiopia

The government of China has extended 100 million Yuan assistance for Ethiopia for the construction of railway academy in the country.

China Extends 100 million Yuan for Railway Academy in Ethiopia
November 20, 2016 12:56 pm

Dr. Abreham Tekeste Minister of Finance and Economic Cooperation and his Chinese counterpart Qian Kemiang have signed finance agreement amounting to 100 million Yuan with the presence of Prime Minister Hailemariam Dessalegn and Chinese Vice President Li Yuanchao.

The academy will be constructed close to Ethio-Djibouti railway line that connects Addis Ababa with the Port City of Djibouti. The construction of the academy has been designed to upgrade the Railway Institute which was established five years ago.

The construction of the academy will help to resolve the demand for skilled manpower in the railway transport sector and also engage in generating foreign currency by training Africans in the field.

Prior to the signing ceremony Prime Minister Hailemariam and Vice President Li Yuanchao have held discussion on ways of further strengthening the bilateral ties between the two countries.

According to Birhane Gebrekirstos, Special Envoy of the Prime Minister, who attended the meeting, Hailemariam and the Vice President have discussed on various spheres including infrastructural development, trade and investment among others.

The premier acknowledged the contribution of Chinese government and investors to the rapid economic growth of Ethiopia and the ever growing bilateral ties between the two countries.

Chinese Vice President, Li Yuanchao on his part said the bilateral relations between Ethiopia and China is in progress according to their agreement and expressed his delight on the ongoing cooperation between the two nations.

The Chinese government will provide support towards the construction of industrial parks, science and technology, modern agriculture and infrastructural development, he added.

Li Yuanchao who arrived in Addis Ababa yesterday for a two-day official visit is expected to visit the activities of Chinese investors in the country and Chinese supported development projects.

The two countries diplomatic relation was established in 1970 and they have signed various bilateral and international agreements. Some 250 Chinese investors are currently engaged in textile, automotive engineering, food, communication and other investment sectors.

The trade balance between two countries has reached to three billion USD, it was learned. is a railway information and news platform. Website presents from all around the world railway sector news, developments, projects and tender for the sector specialists. Railwaynews supports to industry events and announced them for potential participants. Railwaynews plans to collecting data from all around the world, about railway infrastructure, rolling stock, railway transportation datum, geographical datum to present for railway professionals for short term. Railwaynews will build new platforms aims to high value railway business environment for all railway specialists, railway fans and especially railway suppliers and their decision makers. Railwaynews presents whole information from rail professionals to rail professionals.

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