Phibela Edible Oil Factory announced that it is preparing to supply 7 million liters of oil for the upcoming Easter and Eid-Al-Fitr holidays.
Setegn Engidaw, Communication Director of Belayneh Kindie Group, was quoted by Walta Media and Communication Corporate as saying that, “Phibela is in preparatory stages to supply 10 and 15 liters of edible oil to the market”.
Constructed at a cost of 4.6 billion Birr in Burie town in Amhara region, Phibela Edible Oil Factory can process 700,000 liters of edible oil in a day. It also employs 1,200 staffs.
Initially the factory has a plan to produce 1.5 million liter of edible oil in a day. However, due to electric power interruptions, the company is not working at its utmost capacity, according to Setegn.
Owned by the renowned business tycoon Belayneh kindie, the plant is anticipated to meet 60 percent of the total cooking oil demand of Ethiopia.
The per capita monthly consumption of edible oil stands at 0.7 liters in Ethiopia, where the total demand stands at 71 million liters a month, half of which is being produced locally.
In addition to edible oil, Phibela Industrial Complex has factories that produce soap, carton, butter, plastic packaging materials.
Belayneh Kindie Business Group is one of Ethiopia’s leading corporate groups, with businesses include import, export, transport, hotel, rental of construction materials, domestic business investment and sales of variety of products and services in Ethiopia and abroad.