The plant is said to be constructed at an outlay of 51 million USD.
The German company will own 83 percent of the plan while the State will have 17 percent shareholding along with 3 other shareholders.
The first phase of the construction is going to start in few months time. The second phase, on the other hand, will start after a year time.
When the plant is constructed, it was said to have the capacity to produce 60,000 liters of ethanol per day using molasses, by-product of sugar, from Wonji Shoa sugar factory, Gashaw Aychiluhim, corporate communication executive office of the Ethiopian Sugar Corporation, explained.
Currently there are only 2 sugar factories in Ethiopia that produce ethanol from molasses.
Source: Fana Broadcasting Corporation