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German company licensed to engage in castor oil production with 250mln birr capital
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Robe, October 3, 2007 (WIC) - The German Petro Palm PLC has been licensed with 250 million birr capital to engage in castor oil production in Rayitu Woreda of Bale Zone.
Zonal Investment Office Head, Idris Hassen, told WIC yesterday that the investor is making preparations to cultivate castor oil on the 50,000 hectares it secured. Upon going operational, the project would create 12,000 casual and permanent jobs, according to the head. Meanwhile, five investors with 6.6 million birr registered capital this budget year have entered production phase, he further stated. The investors have embarked upon agriculture, cattle fattening and other investment sectors in Goro and Gasera woredas of the state, it was learnt. The investors have reportedly created more than 300 casual and permanent jobs. |
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