ADDIS ABEBA – Prime Minister Abiy Ahmed has inaugurated PhiBela Edible Oil Factory, the giant palm oil processing plant in Africa, in Bure town, Amhara Regional State.
Apart from Abiy, Deputy Prime Minister Demeke Mekonnen, and other high ranking officials have attended today’s inaugural event today.
Officials expect the plant – which incorporates five factories that process sesame, animal feed and soap, detergent and other products – to meet 60pct of the local edible oil demand.
Ethiopian businessman Belayneh Kinde invested at least 4.5bln Birr in the factory with a production capacity of 1,500 tons of Palm Oil a day.
Officials said the factory will play a significant role in stabilizing the domestic market of edible oil before going to export.
The factory, which will create 3,000 job opportunities, will be starting to distribute its product to the local market starting from Monday, reports say.
Featured Image: The products of the new factory