Ethiopian Railways Corporation signs MoU with COIPA Capital

Addis Ababa, December 12, 2024 (FMC) – Ethiopian Railways Corporation has signed Memorandum of Understanding (MoU) with COIPA Capital, excelling in identifying high-yield products and services, to advance strategic railway and logistics projects.

The agreement signed today by Deputy CEO of Ethiopian Railways Corporation (ERC), Getu Gizaw and COIPA Capital’s CEO, Vito Favorito Sciammarella, stated as a pivotal step towards strengthening Ethiopia’s logistics, railway and industrial capabilities.

Addressing the signing ceremony, deputy CEO of ERC Getu said this partnership with COIPA capital represents a strategic millstone to modernize Ethiopia’s infrastructure.

“By integrating global expertise, we aim to create world-class logistics and railway systems that drive economic growth.”

ERC and CIOPA Capital will work together to advance critical initiatives including port logistics projects, he pointed out.

The Deputy CEO added that the two institutions will also execute more projects including the building of ERC Headquarters for Mixed-use Commercial complex and establishing an infrastructure construction and consultancy unit.

Each of these projects reflects our commitment fostering economic growth and strengthening regional integration and ensuring suitable development, he affirmed.

“By combining ERC’s strategic vision and COIPA Capital‘s expertise in investment and project execution, we are laying a groundwork for long-term success.”

COIPA Capital’s CEO, Vito Favorito Sciammarella noted for his part that the project will be instrumental not only for Ethiopia but also for the entire central and East Africa region.

“We are honored to partner with ERC in this transformative initiative. Our commitment is to bring the best of European expertise and financing solutions to support Ethiopia’s ambitious infrastructure development goals.”

The Memorandum of Understanding is also targeted to advance critical infrastructure projects aimed at bolstering Ethiopia’s economic growth and connectivity.

Under this MoU, COIPA Capital will provide technical, financial and advisory support leveraging its extensive experience in structuring and financing large-scale industrial projects, it was indicated, ENA reported.