Eritrea Mulls Port as Ethiopia Rapprochement Spurs Investors – by Nizar Manek (Bloomberg News – August 23, 2018)

https://www.bloomberg.com/

Eritrea is considering building a port on its Red Sea coastline to export potash from deposits being developed in the Horn of Africa nation, a mines ministry official said.

Plans for the harbor signal the country’s reemergence as a potential investor destination after its surprise rapprochement with neighboring Ethiopia last month ended two decades of political tensions.

The facility could be used to ship potash from Ethiopia and adds to a series of port developments in the strategically located region by nations including Djibouti, Somalia, Sudan and the self-declared Republic of Somaliland.

The port would be situated at the Bay of Anfile, 75 kilometers (47 miles) east 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.

A feasibility study is under way to decide on the specific site, with the start of construction envisaged about five years after a mine starts operating there, he said. “To begin, the company has to make money,” Alem said.

For the rest of this article: https://www.bloomberg.com/news/articles/2018-08-23/eritrea-mulls-new-port-as-ethiopia-rapprochement-spurs-investors

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