IPDC, two companies ink land, shade lease agreements

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Industrial Parks Development Corporation (IPDC), PCE Venture Manufacturing PLC and Akshay Jain PLC signed manufacturing shade and land lease agreements on Monday.

The first manufacturing shade leasing agreement has been signed between Shiferaw Solomon, Deputy CEO of IPDC and Kibreab Abera, Deputy General Manager of PCE Venture Manufacturing PLC.

PCE Manufacturing PLC will invest 30 million Birr in the new manufacturing shade inside Jimma Industrial Park (JIP), which received it from the IPDC.

PCE Venture Manufacturing PLC, which is also known as Parker Clay’s 99% share is owned by its parent company in the United States of America while the rest owned by Ethiopian investors.

PCE produces leather products. The agreement is expected to expedite export trade to Ethiopia in addition to creating jobs to 300 people.

The second agreement was signed between Mr. Shiferaw and Akshay Jain, CEO and Managing Director of Akshay Jain PLC.

Akshay Jain has invested 884 million Birr in JIP and engaged in the production of bio gas and bio-gas fertilizer on 40,000 meter square of land.

Akshay Jain PLC also launched producing pure avocado oil a year ago and contributed to export earnings to Ethiopia. Last year, it has exported avocado oil and garnered $224 million.

The company has also created a market linkage to 15,000 local farmers.

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