Addis Ababa — Akshay Jay Oil, an Indian company engaged in avocado oil production in Jimma industrial park is building a factory with an outlay of 17 million USD to produce solid and liquid compost from waste products, according to industrial park manager.
Industrial Parks Development Corporation has organized a media tour for professionals to visit the overall activity of the park and infrastructure development undertakings.
Jimma industrial Park Manager, Tesfaye Likissa told ENA that Akshay Jay Oil company has taken four hectares of land and is undertaking construction work as part of expanding its investment.
As the park is engaged in agro-processing, the waste products released from the factory is substantial.
The factory is also expected to complete in five months, he said, adding and it will be utilized for incoming investors, playing a crucial role in protecting the environment.
According to Tesfaye, Jimma industrial park is equipped with the required infrastructure facilities and is waiting for potential investors.
The park has nine sheds and two of them are occupied by investors, he said, calling on other investors to come and invest in the industrial park specially to process coffee, honey, wood products, packaging mong others.
Manager of Akshay Jay Oil, Hari Prasad Yadav said on his part that the company started operation last year with investment capital of 18 million USD and has the capacity to process 7000kg per hour to produce avocado oil.
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The company has been collecting avocados from various Jimma Zone areas to produce the oil, he said.
However, he further said as there are shortages of avocados, the company is growing avocado seedlings in nursery and distribute them to farmers to fulfill the demand.
"We are trying to find out a place to grow avocado seedlings for farmers. This year, we plan to provide one million and next year we want to increase this number to four million, and we expect to get more avocado after three to four years" he said.
Currently, Akshay Jay Oil is operating in the industrial park while Soreti International PLC, a domestic company has finalized preparation to enter to the park and engage in similar investment.
While visiting the park, the media team and workers of the park have planted tree seedling as part of the IPDC's plan to plant over 15 million tree seedings in 12 industrial parks across the country and in Dire Dawa Free Trade Zone.
Currently, more than 1000 jobs opportunities are created for citizens in the park and when fully operational, it will create 10,000 jobs.
So far, the Jimma Industrial Park has created market linkage for 15,000 farmers.
