Belayneh Kindie Group (BKG) said Phibella Industrial complex as been producing 1,500 tons of palm oil a day, which is the leading in Africa, using the imported fruit of the oil palms from China, Indonesia, Switzerland and others with a view to satisfying the national local palm oil consumption as well as to beefing up export market.
Briefing journalists yesterday in connection to Phibella Industrial complex official inauguration today, BKG Board Chairperosn Belayneh Kindie said the company is arduously working to well expand business in automobile, hotel industries apart from contributing its share to the development of the nation covering 60% of the oil demand at national level at present.
"Since we're principally focusing on import substitution, we've planned to fully substitute the imported palm oil within the next five years. The company lying on 30 hectares of plot of land has at present created 3,000 job opportunities for citizens of whom many university graduates have joined," he added.
He further said that the company is working to be the best company in Africa in the next five years. KBG is also closely working with Middle East, Europe and America, among others, with a view to meeting the international palm oil demand as it has come up with products keeping international standard.
"The company is trying all its best to provide the general public with palm oil products at the price it is being sold in Malaysia. There is no African nation currently producing the aforesaid amount of oil per day as we have observed a range of industries in due course of experience sharing," he said.
Phibella Industrial Complex incorporates some seven plants namely: palm oil refinery and fractionation, sesame processing, sesame filling packaging plant, soap and detergent, margarine and vegetable oil production, plastic Jerri can, carton factory, it was learnt.
The Ethiopian herald February 7/2021