New road development in Ethiopia

Key highway developments are improving connectivity for Ethiopia. The African Development Bank (AfDB) will finance part of the Mojo-Hawassa express highway project. The 209km highway will be constructed in two phases over a five year period, with extra funding coming from South Korea Exim Bank and the government of Ethiopia. Under the first phase, 93km of road will be constructed and the AfDB approved a $126 million package of funding for this Mojo-Meki section. Some $2.44 million is being provided by the
December 9, 2013 Read time: 2 mins
Key highway developments are improving connectivity for Ethiopia. The 1586 African Development Bank (AfDB) will finance part of the Mojo-Hawassa express highway project. The 209km highway will be constructed in two phases over a five year period, with extra funding coming from South Korea Exim Bank and the government of Ethiopia.

Under the first phase, 93km of road will be constructed and the AfDB approved a $126 million package of funding for this Mojo-Meki section. Some $2.44 million is being provided by the bank to help the Ethiopian Road Authority (ERA) in a construction capacity. A further $99.1 million will be provided by the Ethiopian Government to fund resettlement compensation, local taxes, costs and other expenses. Some $349.51mn will be invested in the section between Mojo and Zeway (Batu). The second section that stretches over 37 km between Meki and Zeway will be funded using $ 22 million from the government and a $100 million loan.
Finance & Funding

For more information on companies in this article

Related Content

  • Funding found for Ethiopia road project
    June 4, 2015
    The World Bank is offering Ethiopia a loan worth US$370 million for the construction of a new expressway. The Ethiopian Roads Authority (ERA) will use the loan to construct the 57km Batu Ziway-Arsi Negele section of the 203km Modjo-Awassa expressway. The loan will be repaid over 38 years with six years of grace period. The Modjo-Awassa expressway has four sections, with the 52km Arsi-Negele section to be funded by China EXIM Bank. Korea EXIM Bank will finance the 37km Meki-Ziway section and the African Deve
    Read More
  • Ethiopia’s building roads
    November 29, 2013
    Ethiopia is set to benefit economically from investment in a number of new key road links totalling over US$1 billion. The east African nation’s 218km Modjo-Hassan highway is expected to cost US$720 million to construct. The highway will be constructed in two stages. The first section of the route will stretch 93km from Modjo to Zeway and is expected to cost $350 million to complete. The second section of the highway will be 125km long and link Zeway with Hewassa and this stretch is estimated to cost $370
    Read More
  • Odebrecht wins Brazilian highway concession
    November 29, 2013
    Odebrecht has been awarded a concession for Brazil’s important BR-163 federal highway route. The 851km section of highway runs through Mato Grosso state and the deal is worth some US$2 billion, according to a report by Business News Americas. As part of its contract, Odebrecht will have to widen a 454km stretch of the route within five years and is also required to build nine new toll booths.
    Read More
  • New highway planned for Ethiopia
    August 29, 2013
    A new highway in Ethiopia will provide a key link for the country’s future economic development. The 218km Modjo-Hassan highway is expected to cost US$720 million to construct. The highway will be constructed in two stages. The first section of the route will stretch 93km from Modjo to Zeway and is expected to cost $350 million to complete. The second section of the highway will be 125km long and link Zeway with Hewassa and this stretch is estimated to cost $370 million to build. However, funding for the hi
    Read More

Highlighted Content