Gafat Endowment has announced plans to invest 7 billion birr in Ethiopia to establish a paper and pulp project, Tana Paper and Pulp Factory S.C, in the Amhara Regional State

The project will also include a pulp wood farm for a variety of Eucalyptus trees especially adapted to produce pulp.

It is expected that Gafat Endowment will establish four more companies within the next few years. Gafat will fund the capital investment required for the project through company financing, loans and selling shares to the public.    

Two other projects Tissiat and Tana Flora are already operational under Gafat Endowment. Tissiat is involved in the construction of canals for irrigation and in drilling water wells. Tana Flora is engaged in the horticulture sector and is expected to begin flower exports from Bahir Dar, Amhara Regional State directly to Europe.
 
Source: The Reporter