Ethiopia diversifies trade access with Sudan and Kenya port investments
Ethiopia will take a stake in Port Sudan in its latest deal to boost and diversify its maritime business.
The deal was reached at a meeting between Ethiopia’s Prime Minister Abiy Ahmed and Sudan President Omar al-Bashir.
“The leaders of both countries agreed to develop Port Sudan together,” said Meles Alem, spokesman for Ethiopia’s Foreign Ministry, reported The Sundanese Media Center.
Mr Alem added: “This deal entails that Ethiopia will be a shareholder of the port as well.”
No financial details of the agreement were disclosed.
Ethiopian diplomats and Kenyan leaders have also announced an agreement to give Ethiopia a lease at Kenya's new Lamu Port for logistics purposes, according to the Maritime Executive.
The agreement comes with a joint commitment to improve the road and rail links between Addis Ababa and the Kenyan border.
Last month Ethiopia also reached a deal to take a share in Djibouti’s Port of Djibouti under an agreement reached by both countries — though the size of the stake has not been confirmed.
In February DP World stated Ethiopia would take a 19% stake in the Port of Berbera in Somaliland, however Somalia later said the deal was unlawful, sparking ongoing pressure on DP World to scrap the deal.
Ethiopia, which is a landlocked country and Africa’s second-biggest in terms of population, currently sees Djibouti handle roughly 95% of all inbound trade for it.
LATEST PRESS RELEASES
Cone Fenders delivered for Malayan Flour Mills Jetty and Cruise Terminal in Phuket Read more
The new high dimensions gantry crane STS Malaccamax rated amongst the largest cranes in the world an... Read more
The contractors THV Artes Depret – Franki formed a temporary partnership to construct the new lock i... Read more
Port terminals worldwide have begun to deploy new simulation technology that's making the operator t... Read more
BENSCHOP (NL) – Terberg announces a new generation of Yard Tractors. These innovative Yard Tractors ... Read more
The lock Langwedel is one of numerous locks along river Weser in Northern Germany. It is operational... Read more