Sinopia News Top

Ethiopia: Akshay Jay Oil Expands Investment in Jimma Industrial Park

Akshat Jay Oil

The Indian company Akshay Jay Oil, which produces avocado oil at Jimma Industrial Park, is increasing its investment by building a facility to create solid and liquid compost from waste materials. New investors will use the factory, which should be finished in five months, to save the environment.

Akshay Jay Oil started producing avocado oil last year with an investment capital of USD 18 million and a processing capacity of 7,000 kg per hour. To make the oil, the company gathers avocados from various locations in Jimma Zone. However, in order to meet demand and address avocado shortages, the corporation is cultivating avocado seedlings in a nursery and providing them to farmers. The business intends to offer one million avocado seedlings this year and four million the following.

The only business currently running in the industrial park that makes avocado oil is Akshay Jay Oil. However, a domestic company, Soreti International PLC, has finalized preparations to enter the park and engage in a similar investment.

Tesfaye Likissa, the park's manager, claimed that the park has the required infrastructure and is looking for possible investors. He invited other investors to visit the park and make investments, particularly in the processing of coffee, honey, wood goods, and packaging, among other things.

When fully operational, the Jimma Industrial Park will have 10,000 jobs available, providing more than 1,000 work possibilities for locals. Additionally, the park has given 15,000 farmers access to new markets.

Source (including image): Ethiopian News Agency