Tag Archives: Port Construction

Djibouti Embarks on $9.8 Billion Mega Projects

Djiboutian economy to grow by 5 per cent on average annually for the past five years
Ethiopia’s almost total reliance on Djibouti port services had helped the Djiboutian economy to grow by 5 per cent on average annually for the past five years

By Andualem Sisay,

DJIBOUTI has announced embarking on several mega infrastructure projects with a total investment of $9.8 billion.

The cost of the projects is six times more than the tiny eastern Africa country’s Gross Domestic Products (GDP).

Djibouti is currently constructing $804 million multi-purpose and three specialized ports to be dedicated for export of livestock, and 4 million tons of potash export per year from Ethiopia and 6 million tons of industrial salt annually from Djibouti.

“Out of the $9 billion total investments for the 14 mega projects, we have already secured 58 per cent funding,” Mr Abubaker Mohamed Hadi, the Chairman of the Djibouti Ports and Free Trade Zone Authority (DPFTZA), told visiting journalists from Ethiopia. Continue reading Djibouti Embarks on $9.8 Billion Mega Projects