Ethio-Djibouti Railways (EDR), a share company managing the gauge railways linking Ethiopia and the port of Djibouti, has secured 2.5 billion Birr in revenues in the past five months, its top official said last week.
The revenue is 600 million Birr more than the total earnings from the same months of the previous fiscal year.
The expansion of shipment services both in terms of volume and types has contributed a lot to the registered growth, EDR’s CEO Abdi Zenebe told the Ethiopian News Agency.
The railway company has transported 500,000 tons in the first five months of the 2022/23 Ethiopian fiscal year, increasing its contribution to Ethiopia’s import and export trade to 15%.
The Ethio-Djibouti Railway recently started providing cargo services for vehicles from the port to the Ethiopian inland terminal.
Its customer, the Ethiopian Shipping and Logistics Services Enterprise made the first shipment of vehicles from Djibouti port to Endode railway station on December 9, 2022.
“Besides saving logistics costs and transit time and expediting the timely flow of cargoes, the railway transport service especially enables Vehicles to reach their destination safely,” the enterprise said.
Apart from new products, Ethio-Djibouti Railways’ CEO Abdi said the company transported major import and export products such as fertilizer, oil, wheat, and others.