The Industrial Parks Development Corporation (IPDC), Damtit Vet Pharma Trading PLC and GreenBZ Investment PLC signed a land lease agreements on Wednesday.
The agreements have been signed among Sandokan Debebe, CEO of IPDC, Abraham Tesfaye, General Manager of GreenBZ Investment PLC, and Dr. Dagninet Yimenu, Founder of Damtit Vet Pharma Trading PLC at Kilinto Industrial Park.
The park is sprawled over 279 hectare of land.
GreenBZ Investment PLC will be laid on 5000 square meters of land and it will cost 230 million Birr for construction. The company will produce Avocado oil as well as medicines and cosmetics from Avocado.
Once started its production, the company will process 9 tons of Avocado in an hour.
Sandokan said during the agreement program that the government is providing supports to private investors through installation of infrastructures and easing processes at Customs Commission.
On the other hand, Damtit Vet Pharma Trading PLC will be constructed at a cost of 150 million Birr; it will produce medicines, veterinary medicines and pesticides.