Addis Ababa, 19 June 2015 (WIC) – One of the chemicals in Ethiopia, Bekas, has signed machinery purchase agreement with Chinese Winton.
The accord signed after one year of negotiation at Capital Hotel in Addis Ababa on June 17 sees Bekas Chemicals Private Limited Company (PLC) and Chinese firm Winton Machinery for the turnkey construction with the edible oil industry and animal feed industry able to produce 20 million liters and 720,000 quintals annually respectively once commissioned.
They’re also expected to generate up to 450 jobs, for a country that in particular imports about 325 million Ethiopian birr (16.2 million USD) worth of edible oil.
Bekele Tsegaye Managing Director of Bekas Chemicals stated that with Agro-Processing being a focal point of the target sector for government industrialization effort, this project will be an example in creating forward and backward industrial linkages.
Mebrahtu Meles state minister of the Ministry of Industry (MoI) on his part stated that Ethiopia 15 years or so ago was known for it’s starving citizens begging for food and medicine which has started to change in recent years.
“The Transfer from an agricultural led to an industrial based manufacturing industry will change our export portfolio and boost economic development” stated the minister. (newbusinessethiopia.com)