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China Merchants Group the mother company of China Merchant Holding, who bought 23.5 percent share on the Djibouti Port SA in 2013, stated that it would redevelop the oldest port in Djibouti.
The company that is undertaking massive logistics developments in collaboration with the Djibouti government finalized the biggest ever port facility at Doraleh, Doraleh MultiPurpose Port at the cost of close to USD 600 million last year. It has also lunched the 50 square kilometer giant free trade zone in collaboration with the government of Djibouti recently.
On the latest reports the company stated that it may shortly begin redevelopment of the old port, which is located at the downtown area of the country’s capital.
China Merchant, which is one of the logistics giant in the world, is considered as one of the major instrument for the implementation of Belt and Road Initiative that the Chinese government introduced few years back to smooth the economic integration between China and the rest of the world. Djibouti, Ethiopia and Kenya are some of the countries that are included under the initiative in Africa.
According to the plan of Djibouti Ports and Free Trade Zones Authority (DPFZA), which is a government body that over look the logistics and relative developments in Djibouti, the old port would be changed to modern business district like residential, office, shopping and recreation centre.
Djibouti is the major export/import outlet for Ethiopia for the last two decades that enable the country to expand its facilities aggressively that makes the country the highly developed logistics hub than others in the region. The country has also launched several additional port facility projects in different part of the coastal areas, which makes the country more competitive in terms of tariff and accessibility of developed facility.
Recently, Ethiopia and Eritrea revived their friendship after two decades of hostility. This may led Ethiopia to use the port facilities in Eritrea, while experts said that the ports needs massive upgrading to compete in terms of service and tariff.
On his visit to Djibouti PM Abiy tabled a joint port development with Djibouti that both have agreed on it. Currently the two countries are linked with the 759km electric railway that makes the logistics transport more easy and cheap. Ethiopia is also interested to develop in partnership with other regional countries.