Ethiopia’s chemical industry corporation obtains 5 billion birr revenue

Addis Ababa, July 1, 2024 (FBC) – Chemical Industry Corporation disclosed that it has secured 5 billion Birr in revenue from its industrial chemical input products over the past eleven months.

Given the government’s priority, Ethiopia has been becoming an attractive destination for chemical trade.

In this regard, the country’s chemical industry is diverse and demands chemicals for food, beverage and textiles.

Ethiopia’s Chemical Industry Corporation oversees Muger Cement Factory, Adami Tulu Pesticide Processing Factory, Awash Melkasa Chemical Factory, Batu Caustic Soda Factory and Rubber Tree Development and Production Project, it was indicted.

The Corporation CEO, Hundessa Dessalegn said the corporation supplies the chemical products from its factories to the domestic and foreign markets.

Hundessa pointed out that Corporation is playing a paramount role in the country’s economy by increasing the productivity and profitability of fertilizer inputs, rubber tree products, cement and other related chemical products.

As one of the nation’s enterprises, the CEO pointed out that the Chemical Industry Corporation has generated five billion Birr in the past 11 monts of the 2023/24 budget year.

The revenue has shown a 28.9 percent increase compared to the same period last year, he indicated.

He also noted that the Corporation is delivering products that it has partially or fully processed in the rubber tree cultivation to the customers. An expansion project is being implemented to increase its capacity in this sphere, Hundessa said.

For Instance, it is cultivating rubber trees on more than 6,000 hectares of land in Oromia region and Southwest Ethiopia region.

Indicating that half a million rubber trees have been planted through this project initiative, the CEO noted that the corporation is anticipated to harvest up to 30 tons of rubber trees in just one month.

He further explained that in addition to covering the national demand in the sector, the rubber tree development and production project is imperative to maximize foreign currency earnings by exporting products to the international market, ENA reported.

The Chemical Industry Corporation is a government enterprise that provides chemical inputs to producers engaged in agriculture, health, construction, manufacturing and other sectors.