RESDAC Systems plans $60M oil refinery in Ethiopia

Addis Ababa, February 28, 2024 9FBC) – RESDAC Systems LTD, a leading global energy solutions company, disclosed its plans to establish a crude petroleum oil refinery in Ethiopia with a 60 million USD investment.

The company’s intent was disclosed during a discussion between deputy commissioners of the Ethiopian Investment Commission, Dagato Kumbe and Zeleke Temesgen and the Indian firm’s delegates.

During the meeting, RESDAC’s delegates were briefed on investment opportunities in a crude petroleum oil refinery in Ethiopia.

“With plans to invest over 60 million USD, the company seeks to establish the refinery through a public-private partnership or independently,” Ethiopian Investment Commission’s social media post reads.

Subsequently, the EIC management has pledged unwavering support for RESDAC’s upcoming projects, it was indicated.