Indian companies are planning to establish opal processing plants in Ethiopia following a ban on the export of raw opal earlier this month. Until the ban was imposed 86 percent of of Indian opal was sourced from Ethiopia.
Several Indian companies have showed their interest in building opal processing plants in Ethiopia, according to the reports of The Reporter.
Glocare Pharma Manufacturing PLC, an Indian pharmaceutical manufacturer, has inaugurated its plant at Ethiopia's Kilinto Industrial Park built at a $5 million investment. The plant has a capacity of producing 600 million tablets and 7 million caps of medicine annually.
An Indian company, ShriVallabh Pittie (SVP) group, is going to install Africa’s largest cotton mill in Ethiopia. The company will invest US$ 500 Millionfor the mill that is going to produce cotton yarn solely for export purpose.
Razia Agro Industry, an Indian company, is going to set up a sugar mill in the east Wollega zone of the Oromia Regional State.
According to an official of Razia, the company has acquired 4,000 hectares of land for sugarcane plantation and the construction of the mill. The official said that the company had already started clearing the land for developing the sugarcane farm.
Karuturi Global is planning to produce rice, maize and soybeans over 20,000 hectares of land in Ethiopia.
Karuturi, founder and managing director of the company, said that the 20,000 hectares of plantation would come up in the Oromia and Gambella regional states.
According to Karuturi, the 20,000 hectares of land is part of 100,000 hectares the company has leased from the government in 2009.
He said that the company had also planted a variety of crops like rice, maize and sugarcane in other regions of Ethiopia, besides planting roses on many farms.
