(MENAFN) Ethiopia said that it expects to complete the Chinese-backed construction of its USD475 million metro rail system in the capital Addis Ababa, which is currently being built by China Railway Engineering Corporation (CREC) in January, Arab News reported.
China said that the project, which is a major partner in Ethiopia's bid to expand its infrastructure, with cumulative investments by Chinese firms reaching well over USD1 billion, will help the country deal with its poor transportation links.
Aside from the capital metro project, the country is also building a new rail link to neighboring Djibouti as well as its plan to complete a 5,000 km of railway lines by 2020, and aims to almost treble the size of its road network by next year, from less than 50.000 km in 2010.
Ethiopia is one of Africa's fastest growing economies, expanding by about 9 percent a year and attracting overseas investment through its fast growing production of clothes, shoes and other basic goods that have attracted firms from China, as well as India and the Gulf.
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