An Indian firm has expressed interest in a collaborative investment with Ethiopia’s government in a rubber plantation and processing industry.
The company was the only one to express interest in the joint venture following an invitation for bids by the Privatization and Public Enterprises Supervising Agency according to sources at The National Nucleus Project for a Rubber Plantation and Process Joint Venture.
PPESA is unable to disclose the identity of the company interested in the investment project because negotiations are still in the early stages according to Wondafrash Assefa, Head of Public Relations with PPESA.
The invitation was for international and domestic investors interested in a partnership or a partial rubber investment to be conducted in the West and Southwestern side of the country.The National Nucleus Project has been in the works for the past years with a feasibility study conducted by international and domestic experts. The project is intended to supply rubber for the production of car tires.
The project was launched last year when work began on the installation of a rubber sheet processing plant at one of the rubber tree plantations areas although the project has not been fully implemented due to the large financial investment required.
In related news experts from the project visited factory sites in the largest rubber producers in the world; Côte d’Ivoire and Malaysia.
Source: Capital
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