Ethiopia & Djibouti agree on Blackstone-backed $1.6B fuel pipeline

Ethiopia and Djibouti signed an agreement for a $1.55 billion fuel pipeline with developers Mining, Oil & Gas Services and Blackstone Group LP-backed Black Rhino Group.

The two countries in the Horn of Africa signed framework agreements on Tuesday for construction of the 550-kilometer (340-mile) line to transport diesel, gasoline and jet fuel from port access in Djibouti to central Ethiopia, the companies said. Financial close is expected in 2016, with construction scheduled for completion two years later.

Read more: Ethiopia, Djibouti Agree on Blackstone-Backed Fuel Pipeline – Bloomberg Business

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