Ethiopian Railway Corporation is struggling financially
CEO of Ethiopian Railway Corporation, Dr, Getachew Betru, reportedly resigned his position. Apparently, his resignation was not expected.
It is to be recalled that he appeared recently before the Ethiopian parliament, which is entirely controlled by the ruling party, to report about the corporation.
It is also to be remembered that Getachewu Betru indicated in his report that Ethiopian Railway Corporation is struggling to pay debts and needed additional loans in hundreds of millions of birr to pay for new projects in the country.
His resignation is linked with possible friction with the ruling party officials over budgetary allocations for ambitious railway projects in the country.
Currently, Awash-Weldiya/Hara and Mekelle railway construction project is underway. While Chinese contractors are undertaking the Woldia-Tigray project, Turkish contractors are undertaking Awash-Woldia project.
The first Ethiopian railway line runs from Addis Ababa to Djibouti via Dire Dawa. It was project initiated by Emperor Menelik and was fully funded by Ethiopia with no loans from elsewhere.
Join the conversation. Like borkena on Facebook and get Ethiopian News updates regularly. As well, you may get Ethiopia News by following us on twitter @zborkena
Powered by WPeMatico
Latest posts by a_jackson_931963 (see all)
- Spurned by Major Companies, The Daily Stormer Returns to the Web With Help From a Startup - August 19, 2017
- Can Police Prevent the Next Charlottesville? - August 19, 2017
- Track News Stories About Hate With the Documenting Hate News Index - August 19, 2017