Commercial Nominees PLC (CN) and the Ethiopian Railways Corporation (ERC) have signed a Memorandum of Understanding (MoU) to collaborate on various third-party services, engineering, infrastructure development, and business services.
Speaking at the signing ceremony, CN Chief Executive Officer, Commander Tilahun Tsegaye, said the agreement creates a significant opportunity for the two institutions to jointly engage in construction and consultancy services, in line with CN’s plan to expand into the real estate sector.
Commander Tilahun noted that ERC has been a long-standing customer of CN. He added that the MoU will enable the two institutions to jointly utilize their resources and expertise and undertake activities that can make a significant contribution to the country.
ERC Chief Executive Officer, Engineer Helina Belachew, said the agreement will strengthen the services that Commercial Nominees has been providing to the Corporation and enable the two institutions to jointly explore new areas of business.
She further stated that the MoU is highly important for future collaboration between ERC and CN in construction and consultancy services.
The MoU signing ceremony, held at the Radisson Blu Hotel, enables CN to provide ERC with property and asset management, manpower supply, training, various onboard train services, compensation payment services, and other related services.
Under the agreement, ERC will provide and collaborate with CN on engineering and construction works ranging from design to construction, feasibility studies, capacity building and technical training, consultancy services, and other technical activities. The two institutions will also work together to establish electric vehicle charging stations through joint resource utilization and undertake electric vehicle maintenance services.
CN is already providing security services and compensation payment services to the Ethiopian Railways Corporation.