(Ecofin Agency) - Eritrea is planning the construction of a new port on the red sea to benefit from the opportunities provided by the normalization of its relations with Ethiopia, Alem Kibreab (photo), Eritrea's general director of the Energy and Mines Ministry, indicated.
According to the official’s statements reported by Bloomberg, the country wants to cash in the opportunity of being a potential destination for investors weeks after the political tension between the country and Ethiopia ended. The new port which will be located in the Bay of Anfile will allow the country to position itself as the export hub for potash from the two neighboring countries’ mines. This should be an opportunity for Ethiopia which, for the time being, has no other solution than export its potash (whose mines are still being developed) via Djibouti.
Though for now, no other detail has been provided on the estimated cost, a feasibility study is being conducted to determine the precise location where the new port should be built as M. Alem Kibreab revealed.
Let’s remind that the construction works are planned to start five years after the exploitation of a nearby mine has started to allow the mobilisation of minimum funding.
Moutiou Adjibi Nourou