Indian leather processing chemicals PLC known as Adorn Chemicals PLC established with 25 million Birr officially started operation on Saturday.
Speaking at the inaugural ceremony, Indian Ambassador to Ethiopia, Bhagwant Singh Bishnoi said the establishment of the company would make Ethiopia self sufficient in leather processing chemicals.
He said the company supplies its products mainly to local leather manufacturing firms. Fat liquor, pigment emulsion, spray paints and chromium sulphate are among the chemicals that are produced by the company.
Trade and Industry State Minister, Tadesse Haile on his part said the opening of the leather chemical factory would enable the country to save much needed foreign currency.
Ethiopia has good governance, stable political and macro economy which attracts dozens of Indian investors.
Many Indian companies have invested in manufacturing, chemical, agriculture and food processing industries, among others.
He called upon Indian investors to exploit the vast investment potential Ethiopia has.
Adorn Chemicals PLC is a joint venture between three leading manufacturing groups from India.