Addis Ababa — Ethio-Djibouti Railway Share Company (EDR) stated that its capacity in terms of cargo and passengers transportation has shown close to 40% annual growth.

Speaking to the Ethiopian Press Agency (EPA), Company Chief Executive Officer Abdi Zenebe (PhD) said that the rail freight and passengers transportation capacity have been registering a remarkable growth of 35%-40% per annum.

The CEO further remarked that the rail service has reached its transport capacity of exceeding 2 million tons of cargo, he said, adding that preparations are underway to increase the number of railway stations keeping the existing 20 ones intact.

The corporate, which commenced service five years ago, has been contributing a lot to the trade facilitation and foreign exchange reduction, EPA learnt. He said: "Currently, rail transport is playing a pivotal role in strengthening regional connectivity and stabilizing the country's economy.

Besides, capacity building activities have been putting in place with two giant Chinese contractors to boost the rail transport capacity." "Preparations are underway to increase the capacity of the rail service from 2 million tons to 4 million," he added.

Along with the Ethiopian Electric Power, Abdi elucidated that the firm has managed to solve some power interruptions and now it is delivering proper services. "Indeed, involving various stakeholders, we have managed to reduce the misuse of resources and destruction by 85%."

Moreover, the corporate is closely working with the National Bank of Ethiopia to solve foreign exchange glitches witnessed in the sector.

Emphasizing the significance of Belt and Road Initiative that has on the countries rail transport and industrial and technological transformation, the CEO stated that the initiative would have of a paramount importance for the country to gain valuable inputs and experiences in the sector.