National Oil Company (NOC) unveiled its plan to distribute petroleum products soon in Djibouti, Ethiopian News Agency reported.

Tadesse Tilahun, NOC Executive Officer said, with 450 million Birr investment NOC has purchased petroleum stations and the petroleum depot in Djibouti Airport along with oil tankers.

Tadesse also noted NOC’s branch in Djibouti will contribute to the foreign currency earnings of Ethiopia.

NOC would start installing modern electronic instruments on its tankers and introduce controlling system as well as e-card purchase system soon, according to the CEO.

NOC was founded 11 years ago with 400 million Birr and its current capital is 1.2 billion Birr.

Source: Ethiopian News Agency