Chinese Firm Secures Deal to Power Awash-Woldia Railway

Jun 20 , 2020


Pinggao Group Co. Ltd, a Chinese electrical corporation, has signed an agreement with Ethiopian Electric Power (EEP) for the construction of a high voltage power transmission line for the Awash Woldia-Hara Gebeya railway project. The company mainly researches, develops, produces and sells high voltage, extra-high voltage and ultra-high voltage switchgear. The agreement, signed by Ashebir Balcha, CEO of EEP, and Zhai Yanbin, overseas marketing director at Pinggao Group, comes at a cost of 11.5 million dollars, which will be entirely funded by the Ethiopian government. Pinggao Group is expected to build a 230/132KV high voltage power transmission line for the railway project that stretches 206Km. The railway is scheduled to be finalised within the coming 12 months. TBEA Company, another Chinese firm, also signed an agreement with Ethiopian Electric Power (EEP) earlier last month for 5.3 million dollars and 41 million Br to build four power substations for the Awash-Hara Gebeya Railway project. Upon completion of the power transmission line, the railroad, which links the country’s northern and eastern transportation networks, will start operations with 20 cargo trains and six passenger trains. Each passenger train will accommodate 120 people, and each cargo car will haul 30 wagons carrying 1,350tn each.


Radar

Ethiopia Revives WTO Ambitions After Five-Year Stall

Ethiopia's trade delegation led by Kassahun Gofe (PhD), a chief negotiator in the WTO accession talks, is reviving a long-stalled effort to join the World Trade Organisation (WTO), signalling renewed ambition following a five-year hiatus. He travelled last week to Geneva, Switzerland, where the WTO is headquartered, to conclude negotiations for membership by March next year. If successful, Ethiopia's accession to the world's trade body will be timed, with the 14th ministerial conference set t...


Radar

First Digital Insurance, Loan Services Launched

A new digital insurance and loan service platform christened 'Agar' - translated as a partner - has debuted in the market, marking a notable entry into the financial sector. The initiative, a collaboration among Global Bank Ethiopia, Lucy Insurance, and Kacha Digital Financial Services, pledged to transform access to insurance and credit for various user groups, including insurance policy buyers, taxi drivers, and salaried employees. For Abraham Tilahun, CEO of Kacha Digital Financial Service...


Radar

City Forms Task Force to Regulate Informal Street Vendors

A new task force under the city administration will enforce new regulations designed to restore order on the streets of Addis Abeba and address concerns over cleanliness and public safety. The task force has been established to enforce regulations imposed on informal street vendors. The city's Trade Bureau launched the initiative to address the increasing informal trading, which city officials say has been "disruptive to the established trade system." The task force is headed by Deputy Mayor...