New Railway to Facilitate Potash Exportation from Ethiopia

Reuters reported that Ethiopia has signed deals with China and Turkey to build a railway that will connect Ethiopia to the Tadjourah port in Djibouti. The railway will facilitate potash exportation from Ethiopia, where companies including Allana Potash Corp. (TSX:AAA,TSXV:AAA) are developing mines.

As quoted in the market news:

Getachew Betru, head of the Ethiopian Railways Corporation (ERC), said Turkish firm Yapi Merkezi will build a $1.7 billion railway line in the northeast, part of a project that stretches to Djibouti’s third port of Tadjourah, which is under construction.

[The] deal followed a $1.5 billion agreement signed over the weekend between ERC and China Communications Construction Company to build a different section of the railway line to Tadjourah port.

Click here to read the full Reuters report.