Peniel Cork Factory built with 120 million Birr capital is inaugurated on June 6, 2015, according to Ethiopian News Agency.

The factory is the third to Ethiopia and is situated in Addis Ababa. It is said to assist the country to meet half of the local demand for bottle stopper.

Peniel has a capacity of producing one billion corks a year.

Establishment of such companies is important for the increasing beverage factories in Ethiopia to provide quality bottle stopper locally, Tadese Haile State Minister of Industry said.

Birtukan Abebe, Owner of the factory said her plant helps Ethiopia save foreign currency used to spend on cork importation.

Ethiopia imports 80 percent of the demand for bottle stopper.

Source: Ethiopian News Agency