Ethiopia to Acquire a Second Paper Factory
Ismael Toure Business PLC along with other shareholders is going to set up a new factory dubbed Pure Wood Pulp Paper and Packing PLC, which will manufacture pulp, paper and packaging materials. The factory is going be in Dukem Eastern Industry Zone and it is the second of its kind in Ethiopia.
The shareholders of the new manufacturing company are Ismael, foreign investors from China and Ethiopian diaspora investors. The factory is said to have a production capacity of 32,000 tons of paper per annum.
The factory is going to be set up on an area of 68 hectares and it is expected to create job opportunities for 700 individuals.
The construction of the factory is scheduled to be finalized in 11 months time. Once the factory starts manufacturing its products, it will join Ethiopian Pulp Paper Packaging PLC in the sector.
Isamel Toure is said to have been in the Ethiopian business for the last 3 decades.