A foundation for a malt house to be built with 70 million Euros at Bole-Lemi Industrial Park was laid today.
Soufflet Group Company CEO, Jean Michel Soufflet said on the occasion the plant covers 10 hectares of land that is found in a strategic location in the outskirts of Addis Ababa, which is very close to barely growing areas.
He added that the company will begin operation in 2020.
Soufflet noted that the production of malt locally will help reduce the amount of imports, which currently accounts for 70 percent of the market, he indicated.
According to him, as the supply of local malt is not enough to meet the demand, Soufflet Malt Ethiopia will support 15,000 farmers to produce 30,000 tons of barley for malting in 2019 and will be working with 40,000 farmers by 2020 to produce 80,000 tons of barley.
The malt house construction is going to create job opportunities for 300 job seekers, it was learned.
Industrial Parks Division Deputy Commissioner at Ethiopian Investment Commission, Hanna Arayaselassie said Ethiopian government remains committed to support such quality investments.
She stated that Soufflet Group creates the backward linkage between agriculture and industry through providing necessary technology and know-how for smallholder farmers.
Furthermore, the group enhances the friendship and economic cooperation between Ethiopia and France, Hanna noted.
Soufflet Group is a family-owned international food and agricultural group that mainly operates on the world malt market in Europe, Asia and South America.