An agreement is signed between the French Malteries Soufflet and Industrial Parks Development Corporation to construct a malt plant in Ethiopia. The Ethiopian Agricultural Transformation Agency (ATA) said the plant would be completed within 2 years time ad would start production in 2020. The land lease agreement is the culmination of a negotiation between the two organizations, facilitated by ATA and the Ethiopian Investment Commission (EIC).
Earlier in January 2017, Soufflet, EIC and ATA had signed a memorandum of understanding to build the barley malting plant in Bole Lemi II Industrial Park in Ethiopia’s Oromia region.
According to the CEO of Malteries Soufflet, Mr. Christophe Passelande, Ethiopia is an attractive country to invest in because of its vast, yet largely untapped potential.
Ms Lelise Leme, IPDC Chief Executive Officer (CEO), said the plant would open up job opportunities for the youth, create a market for smallholder barley farmers, and would help the country in saving foreign currency by reducing the country’s malt imports.
Source: Fana BC