Investors Engaged in Industrial Park Aim to Add Value to Agricultural Products, Earn FOREX

Investors engaged in Bulbula Integrated Agro-Industrial Park said their ventures would add value to agricultural products and earn foreign exchange (FOREX).

The investors told ENA that most of Ethiopia’s crops are exported without value addition. So, it would benefit the country to add value to the products and export them.

Owner of Lizianas Abiy International Business Plc., Abiy Fikadu said that he will process animal meat and other products in the industrial park and supply them to foreign and domestic markets.

The company plans to export 50 percent of the products and supply the rest to local market.

According to the owner, the company would export the by-product of the animals to African countries.

Ethiopia ranks first in Africa in terms of the number of livestock heads where raw material is accessible, Abiy noted, adding that the company would be investing 300 million Birr in total.

Abiyot Cherenet Agro-Processing Manager, Abiy Girma said his company has more than 10 years of experience in foreign trade and envisions exporting fruits and vegetable.

Now, we are going to export avocado oil to foreign and domestic markets by adding value to the product.

Tiger Logistics and Property Protection Plc. representative, Mehari Tesfaye stated that his company would process tomato and offer same to foreign and domestic markets.

Tomato ketchup and other related products as well as vegetable juice will be produced. The factory is expected to create jobs for 200 citizens and benefit farmers by purchasing their products.

Recall that companies with 1.7 billion Birr capital signed agreement to invest in Bulbula Integrated Agro Industrial Park, Oromia Region, this week.

Source: Ethiopia News Agency