Indian Trident Group Limited Company is planning a multimillion investment in Ethiopia that will see the East African country produce an eco-friendly Trident Copier and Writing Paper.
The country continues to be an attractive investment hub for foreign investors with the changes made by the government to increase the general inflow of FDI.
The Indian investor plots to financially inject a capital worth between 100-200 million in establishing a manufacturing plant. The investment opportunity is a boost to the economy of Ethiopia which plans to be Africa’s manufacturing hub by 2025. Among the investors in the manufacturing industry in the country include Turkish and Chinese who are taking advantage of the untapped potential in the industry.
Commenting on the business idea, Navel Jindal, Trident’s CEO, said, “Trident offers a unique advantage of saving the plants by using eco-friendly copier paper which is directly helping the farmers through the sale of agro waste which was earlier burned as economic benefit that causes air pollution.” Trident is one of the preferred suppliers of high-quality paper for multi-color, high-speed printing and publishing and high quality branded copier paper, as per the company’s website.
The firm also offers other products in energy, home textiles, yarn, and chemicals. Its expansion plan in East Africa is factored by Ethiopia’s below annual paper consumption as the country’s per capita consumption is 2.5 kilograms per year while the world’s average per capita consumption is 55 kilograms, revealed by the CEO.
Trident is the world’s largest wheat straw-based paper producer and draws 10 percent of its paper segment revenues from exports across 35 countries including India, Middle East, Africa, U.S., Latin America, and the U.K. with the paper segment contributing 20 percent to the company’s total revenues.
The industrial conglomerate founded in 1990 was awarded the prestigious “International supplier of the year – 2001” Award by Wal Mart, the No. 1 Corporation in the World.
In 2016, India was the biggest land investor in Ethiopia as it extends its partnership in Africa. Last year, India was cited as among the top three foreign investors in Ethiopia making a mark in textile and garments, engineering, health care, and pharmaceuticals.