Emami to build biofuel factory in Ethiopia
Indian biofuels specialist Emami Biotech is to invest $80 million (€56 million) in Ethiopian biofuel production. The cost includes the purchase of 12,000 acres of land for a feedstock plantation.
Although Emami will grow other crops including various herbs on the plantation, the main crop will be jatropha, which will be processed into biofuel at a nearby factory.
The factory, which will account for $56 million of the budget, is projected to take three to four years to build. By the time it is completed, the plantation is expected to have matured.
East Asian and Gulf nations have been rushing to secure land in Africa and elsewhere in the world to meet the needs of their own growing populations. Ethiopia has allocated 1.6 million hectares for investors willing to develop commercial farms.
Although Emami will grow other crops including various herbs on the plantation, the main crop will be jatropha, which will be processed into biofuel at a nearby factory.
The factory, which will account for $56 million of the budget, is projected to take three to four years to build. By the time it is completed, the plantation is expected to have matured.
East Asian and Gulf nations have been rushing to secure land in Africa and elsewhere in the world to meet the needs of their own growing populations. Ethiopia has allocated 1.6 million hectares for investors willing to develop commercial farms.
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