ADDIS ABABA – Ethiopia and Djibouti have signed an agreement to jointly build a new oil storage terminal near Djibouti Port today.
The signing of the Memorandum of Understanding (MoU) comes a month after leaders of the two countries discussed the development of several joint projects of common interest in Addis Ababa.
The MoU was signed between the economic advisor of the Prime Minister’s office, Mamo Mihretu, and the Chairman of the Djibouti Ports and Free Zones Authority, Aboubaker Omer.
The agreement intends to foster a conducive environment for future joint development of oil storage terminals, said Ethiopian Embassy in Djibouti.
The oil storage facility will be erected inside Djibouti’s Damerjog industrial park.
The Ethiopian delegation involving Birtukan Ayano, State Minister of Foreign Affairs, and Tadesse Hailemariam, CEO of Ethiopian Petroleum Supply Enterprise (EPSE), visited the oil jetty construction site, for first-hand understanding of the progress made so far, authorities say.