Cassette no-2 cut -1

A Malaysian investor with over 3.7 billion birr capital has received over 31,000 hectares of land to develop palm oil tree plantation in Madji Woreda, Benchi Madji Zone of the South Ethiopia People State, the zonal trade and industry department said.

Investment promotion process coordinator with Department Belay Abebe told ENA that the investor would also establish a processing industry in the stated hectares of land.

The investor is expected to fully develop the stated hectares of land with the palm oil plantation until the end of 2008 E.C.

The coordinator said the investor would also develop rubber tree on 10,000 hectares of land.

The palm oil tree development would also be used for fuel consumption. The investor has already finalized preparation to nurse palm oil tree seedlings on 500 hectares of land.

Belay said the investment project is expected to create jobs for 40,000.

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