May Flower, an Indian mining company is to invest US$ 116 million in the Delbi coal mine located in South Western Ethiopia, The Reporter reported.

Alemayehu Deressa, general manager of Delbi Cola Mining S.C., told The Reporter, his company has been looking for strategic partnership to jointly develop the coal mine.

The Delbi coal minie is located in Oromia regional state, Jimma Zone, 400 kilometers from the capital, Addis Ababa. 53% of Delbi Cola Mining S.C. is owned by the Endowment Fund for the Rehabilitation of Tigray (EEFORT) and the remaining 47% is owned by Oromia Investment Group.

May Flower will bring mining machinery, experts and finance to further develop the mine. May Flower will own 70 percent of Delbi Cola Mining S.C. according to Alemayehu.

Delbi Cola Mining S.C. was established in 2007. The company concession covers 39.2 square kilometer lot with an estimated total coal deposit of 11.4 billion tons.

Source: The Reporter