March 18

Addis Ababa Inks $29 Million Deals With China Firms for Public Transport Upgrade

By Tesfa-Alem Tekle

Authorities in Ethiopia’s capital Addis Ababa have inked a deal worth $29.17 million with two Chinese companies to modernise the transport sector, the state-run Ethiopia Press Agency (EPA) reported Tuesday.

The first agreement valued at $15 million will enable the Addis Ababa city government to purchase 110 buses from China’s leading bus maker, Yutong, within eight months.

The city will also integrate digital systems in its public bus transport system among other upgrades at a cost of $14.17 million, according to details in the second agreement. The pact was signed between the Addis Ababa city administration and Chinese Hisense TransTech Co., Ltd.

Photo courtesy of lchunt.

Source: The East African (link opens in a new window)

Investing, Transportation
global development, impact investing, transportation