Fibela Industrial Complex, the biggest oil factory in Ethiopia, has been inaugurated by Prime Minister Abiy Ahmed. The factory is projected to cover more than 60 percent of the country’s oil demand.
The industrial complex is located in the Amhara region and has a construction cost of more than 4.5 billion ETB. It is located in the Bure Integrated Agroindustry Park and has the capacity to produce more than 1.5 million litres of edible oil.
Belayneh Kinde Group, an export trader and manufacturer, set up the factory in an effort to cover Ethiopia’s oil demand while boosting its export activities. The company also expects to create about 3,000 permanent jobs at the factory.
In addition to oil, Fibela Industrial Complex is also going to produce detergent soap, packaging cartons, butter, and plastic packaging materials.
Speaking at the inauguration, Prime Minister Abiy Ahmed urged Ethiopia’s wealthy to follow the lead of Belayneh Kinde, the founder of the Belayneh Kinde Group, who is dedicated to giving back to his community instead of hoarding his wealth.
The group also owns Ethiopia Hotel, Hilton Hotel (under construction in Bahir Dar), an oil seed farm in the Benishangul Gumuz, and a car assembly factory in Gelan in Oromia.