A private company commanding the lion’s share of the market in the horticulture logistics sector is making headway to establish a cold storage facility in Modjo town, Oromia, with an investment capital of 350 million birr. WoubGet Holdings, owned by Dawit Woubishet, an Ethiopian investor, has already secured a loan to finance the construction of the project. It has already made an official request for the region to lease land in the town.
The managers of the company see the growing demand for cold storage facilities among horticulture companies for the exports of flower and fruits as an opportunity to set up the facility.
The facility is expected to be set up at the most efficient route for transporting flowers and plants via train from Modjo to Djibouti along the Ethio-Djibouti corridor. About 25,000 square metres of land is needed to build the facility.
Dawit says that 30 percent of exportable fruits spoil every year in Ethiopia due to improper handling from the farm to the processing sites. Over the past two decades, Ethiopia has developed into a leading producer of cut flowers thanks to the country’s flourishing horticulture and floriculture sectors. The sector brought in over USD 400 million in exports over the last seven months.
[ 1 birr = € 0.017 ]
Source: thereporterethiopia.com