US$ 222m road project in Ethiopia to be constructed
US$ 222m road project in Ethiopia is set to be constructed to connect Agamsa-Bure and Nekempte-Anger Gutin-Andhode.
Prime Minister Hailemariam Desalegn of Ethiopia said: “Ethiopia is a fast-growing economy, because we are investing heavily in infrastructure. If we want to harvest the infrastructure dividend, we need to attract more investment.”
The road development contract, which has been awarded to Indian contractor IL&FS Transportation Networks (IL&FS) and its fully-owned Spanish arm Elsamex, will comprise an 84.56-km route connecting Agamsa-Bure as well as an 86.1-km stretch from Nekempte-Anger Gutin-Andhode.
The project is being funded by the World Bank and will take eight years for it to be completed. Ethiopia is witnessing a rapid economic growth, with real GDP growth averaging 10.9% between 2004 and 2014 – elevating the country from the second poorest in the world in 2000 to a middle-income country by 2025 if it continues with its current growth trajectory.
Through a variety of projects structured in the Public Private Partnership (PPP) format, the IL&FS Group has benchmarked the private sector’s role in and commitment towards infrastructure development on a large scale. It fosters creation of community and local-level solutions and allows room for the integration of technical and financial expertise from professionals.