The Ethiopian Railways Corporation has signed a Master Framework Agreement with Fiza Elixer Infrastructure Pvt. Ltd. to combine their financial and technical capabilities and advance joint development and business projects.
The agreement aims to develop the Corporation’s assets, create new revenue streams, strengthen financial and technical capacity, facilitate technology transfer, and expand opportunities in the railway and electric transport sectors.
ERC Deputy Chief Executive Officer of the Railway Infrastructure Division Eng. Sileshi Kassa said the partnership is expected to support financial sustainability, job creation, local production, technology transfer and foreign-exchange generation, while Fiza Elixer Chairman and CEO Mr. Mohammed Farugudin said it will help mobilize finance, build capacity and combine the experience of both institutions.
The planned areas of cooperation include developing the Kombolcha Workshop into a railway maintenance, spare-parts and components manufacturing center, modernizing Addis Ababa’s light rail system through electronic ticketing, additional trains and upgrades to its power, signaling and communications systems, and establishing electric-vehicle charging stations and introducing electric buses in selected parts of Addis Ababa.
According to ERC Investment and Marketing Service Head Mr. Seyoum Gezmu, feasibility, technical and financial studies will be conducted for each project, followed by the establishment of dedicated Special Purpose Vehicles to implement them.
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