Eritrea to build a new port to meet the growing investment in Ethiopia, Bloomberg writes, sourcing officials from Eritrea.
The port which is to be built in a red sea port of the country aimed at transporting potash mineral to Somali, Djibouti and Somalia LAnd, according to Alem Kibreab, director Eritrean Ministry of Energy and Mine.
About 1.2 billion metric tons of potash is located in the area around which the port is to be built, he told to Bloomberg.
The construction of the port, which is expected to be suitable to transport mine resource of the two nations will complete in five years of time, according to Bloomberg’s report.
The port would be situated at the Bay of Anfile, 75 kilometers (47 miles) east (pictured) of the 1.2 billion-metric-ton Colluli potash deposit, Alem Kibreab, director-general of mines in the Ministry of Energy and Mines, said in an interview in the capital, Asmara.
It is said that the port is a project to transport potash mines to the two countries.
After the peace rapprochement between the two neighboring East African nations, the trend of development in the region began to flourish.
In July leaders of the two countries has signed a peace agreement to normalize relations between the two brotherly nations.
Following the peace call from Abiy Ahmed (PhD), prime minister of Ethiopia, Eritrean President Isaias Afeworki accepted Abiy ’s overture to end hostility and resume peaceful neighborhood.
A month ago Ethiopian business delegations visited Eritrea and met with Eritrean business partner to restart the business.