Global Energy Ethiopia building bio-diesel plant

 (05 Nov 2007)

Global Energy Ethiopia has begun building a bio-diesel factory in southern Ethiopia which will produce 40,000 tons of crude oil annually.

When the company's project that has four components begins production, it will have the capacity of procuring 250 tons of fuel each day from caster beans and jatropha, which easily grow in SNNP State.

Chief Executive Officer of Global Energy Pacific Ltd and Global Energy Ethiopia, Yanai Man, said ''by March our project will create additional income for 10,000 families in the region without causing displacement.''

The company will have four components namely, the Processing factory which rests on 15 hectares, modern farm on 30,000 hectares, purchasing seeds from farmers and introducing community farming.

Global Energy Ethiopia Ltd is an extension of the Global Energy Pacific Ltd, based in Nevada, USA and was registered few months ago with a capital of 222 million birr to engage in farming and processing oil seeds and extraction of bio-diesels, it was indicated.

According to Yanai Man, the company is currently dealing with the Development Bank of Ethiopia for financing its expansion project in Ethiopia. ENDS)