This Regulation is issued by the council of Ministers Pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 471/2005 and Article 47(1)(a) of the Public Enterprises Proclamation No. 25/1992.
This Regulation may be cited as the “Ethiopian Railway Corporation Establishment Council of Ministers Regulation No. 141/2007
1) The Ethiopian Railway Corporation (hereinafter the “Corporation”) is hereby established as a public enterprise.
2) The Corporation shall be governed by the Public Enterprises Proclamation No. 25/1992.
The Ministry of Transport and Communication shall be the supervising authority of the Corporation.
The Corporation shall have its head office in Addis Ababa and may have branch offices elsewhere, as may be necessary.
The purposes for which the Corporation is established are:
1) to build railway infrastructure;
2) to operate cargo railway transport services;
3) to operate passenger railway transport services;
4) to engage in other related activities necessary for the attainment of its purposes.
The authorized capital of the Corporation shall be Birr 3,000,000,000 (Three Billion Birr) of which Birr 750,000,000 (Seven Hundred Fifty Million Birr) is paid up in cash and in kind.
The Corporation shall not be liable beyond its total assets.
The Corporation is established for an indefinite period of time.
Regulation shall come into force on the date of publication in the Federal
Done at Addis Ababa, this 29 day of November, 2007