Indian firm to start agro-processing with $5mln investment capital in Ethiopia

Addis Ababa, January 18, 2024 (FBC) – An Indian based Nirvana processing Company is finalizing preparations to commence the Agro food processing at Bahir Dar Industrial park in Ethiopia with an investment capital of 5 million USD.

The government of Ethiopia has been encouraging both domestic and foreign investors to engage in the manufacturing and agro processing sector by expanding industrial parks across the nation as part of its efforts to make the country a manufacturing hub.

Accordingly, it has so far built 13 industrial parks, most of which are used by both domestic and international companies to manufacture goods primarily for export.

Textiles, garments, pharmaceuticals, medical equipment and agro processing are some of the products being manufactured in the industry parks.

Several new companies have also been showing interest to engage in the industrial parks.

One of the recent entrants, Nirvana Processing, is an Indian firm that is finalizing the necessary preparations to start agro-food-processing with an investment of 5 million USD.

General Manager for the company, Ripin Shome said, the company is undertaking preparations to engage in agro processing, particularly, food processing, and organic food commodities at Bahir Dar Industrial park, the capital of Amhara Regional State, ENA reported.

“We have started our investment activities in Ethiopia in October 2023. We are in the process of importing and installation of machineries. So we hope that by end of April 2024 we are going to commission our entire plant and then we are going to start our exports.”

When fully operational, the company is anticipated to create 500 job opportunities, the General Manager indicated.

The Company has already established strong partnership with about 5,500 small scale farm holders in area with a view to create sustainable linkages for agricultural raw material vital to its production.

Hence, he stated that the company is providing farmers with a lot of support, including technical training and other resources, in order to enable them cultivate a variety of agricultural crops that are entirely organic and meet the company’s raw material needs.

According to him, the final products of the company are set to be exported to countries in Europe and America.

The Indian investor has also expressed his conviction about the huge potential suitable for agro processing investment in Ethiopia.

He appreciated the support by the government including the Industrial Parks Development Corporation (IPDC) and other respective bodies to facilitate the investment activities.

Nirvana Processing is a subsidiary of AgriExim Fze engaged in globalagribusiness supply chain for Organic foods.

IPDC has recently signed a combined 100 million USD investment agreements with local and foreign companies to invest across industrial parks in the country.