Tepi Green Coffee State Share Company was fully privatized by the Co-owner private company yesterday, August 14, 2015, Ethiopian News Agency reported.

The plantation was owned by the Privatization and Public Enterprises Supervising Agency (PPESA) and Green Coffee Agro Industry Private Limited Company.

PPESA Director General, Beyene Gebre Meskel, and Chief Executive Officer of Green Coffee Agro Industry Private Limited Company, Tadele Abreha have signed the agreement.

Beyene at the signing ceremony said the government had sold its entire 73.32 percent share to the company with 733.2 million Birr.

It was indicated that the coffee plantation covered 8,100 hectares of land in Gambella Regional State and 28 percent in Southern Nations, Nationalities and Peoples Regional State.

Among the issues the agreement included are replacing old coffee trees, planting new coffee trees on additional land and improving productivity of the old coffee trees.

Tadele Abreha, CEO of Green Share Company said his company is ready to carry out the cultivation of the coffee plantation via irrigation rather than depending on rain.

Source: Ethiopian News Agency