One of the thriving indigenous oil distribution companies, Gomeju Oil Ethiopia, is to join the aviation fuel market by building a jet fuel depot at the Addis Ababa Bole International Airport at a cost of 200 million birr.
Founder and CEO of Gomeju Oil Ethiopia, Tewodros Yeshiwas, told The Reporter that his company has secured a plot of land from Ethiopian Airports to be used for the construction of the aviation fuel depot at the Addis Ababa Bole International Airport. The company is currently working on the design of the aviation fuel depot which will cost more than 200 million birr. Tewodros said the construction will be completed within two years adding that the company would also procure four fuel filler trucks which would cost more than 120 million birr.
“We are proud to partner with Ethiopian Airlines which is the largest African carrier,” Tewodros said. “”We will build a modern aviation fuel depot and render global standard service to the national carrier as well as other airlines,” he said.
Gomeju Oil Ethiopia has partnered with the global lubricant producer, Petronas Lubricants, to build a lubricant blending facility in Addis Ababa. Tewodros said his company has secured a 40,000sqm plot of land in Tulu Dimtu locality to be used for the construction of the lubricant blending factory. “We are now clearing the plot,” Tewodros said. The total cost of the lubricant blending facility is estimated at 700 million birr. “We decided to venture into this investment project to alleviate the shortage of lubricants in the local market. Accessing foreign currency for lubricants imports is also a challenge,” he said.
The lubricants will be used for vehicles, agricultural and construction machineries. Gomeju Oil Ethiopia is the sole distributer of Petronas Lubricants products. The Italy-based motor oil and grease producer, Petronas Lubricants, signed an exclusive dealership agreement with Gomeju Oil Ethiopia in May 2018.
Based in Turin, Petronas Lubricants is a subsidiary company of Petronas (Petroliam Nasional Berhad), Malaysia’s fully integrated oil and gas multinational which is ranked among the largest corporations on FORTUNE Global 500.
Petronas Lubricants was established in 2008 after two companies – Petronas Lubricants wing and FS Selenia, FIAT’s lubricants company – merged. FL Selenia has been producing lubricants for FIAT vehicles since 1936. Petronas Lubricants has four manufacturing plants – two in in Italy, one in Belgium and one in Spain.
Gomeju Oil Ethiopia has built a head office in Addis Ababa behind the Bole Medhanulaylem Church at accost of 80 million birr. The company completed the construction of the four storey building and moved in last week.
In a related news Gomeju Oil Ethiopia has granted a hotel to the Addis Ababa City Administration to be used to quarantine incoming passengers. Responding to a call for assistance made by the deputy city mayor Takele Uma, Gomeju Oil Ethiopia has granted a hotel with 94 guest room built in Bishoftu town, Oromia Regional State, to accommodate incoming passengers. “It is a new hotel that has not been yet operational. We handed over the hotel to the city administration to use it to host arriving passengers until the COVID-19 pandemic crisis is defeated,” Tewodros said.
Previously, the company granted five mobile gas stations to the Addis Ababa City Administration which was transferred to youth cooperatives.
Gomeju Oil Ethiopia was established in 2017 with a registered capital of 53 million birr and commenced operation with 24 fuel stations. The company has raised its capital to 100 million and its number of gas stations to 67 in three years’ time.