French Company Signs Agreement to Build 50 Mln USD Malting Plant

Addis Ababa June 13/2018 The French-based Malteries Soufflet has signed today a land lease agreement to build a 50-million USD malting plant with the Industrial Parks Development Corporation.

The plant, which is expected to go operational in 2020, will initially produce 60,000 tons of malt.

Malteries Soufflet CEO, Christophe Passelande said “Ethiopia is an attractive country to invest in because of its vast and yet largely untapped potential.”

He added that “we chose to invest in Ethiopia as it is the largest barley producer in Africa with 2 million tons and fourth beer producer in the continent.”

Ethiopia’s barley production capacity and growing demand of malt, coupled with Soufflet’s extensive international experience, promises successful collaboration, Passelande noted.

The CEO revealed 20-25 thousand barley producing smallholder farmers are expected to provide their products to the French-based company.

During the signing ceremony, Industrial Parks Development Corporation CEO Lelise Neme said companies like Malteries Soufflet will play great role in transforming the agriculture sector in Ethiopia.

She noted that Ethiopia has been importing about 70 percent of its malt “the signing of this agreement with a world-class firm will have a role in substituting the malt we currently import.”

The CEO pointed out that the emergence of numerous domestic and international breweries means that the demand is expected to grow and the country needs rapid solutions to the shortage in domestic supply.

She stated that the company will create massive job and capacitate huge number of smallholder farmers.