ODAA Integrated Transport S.C, part of the economic revolution in the Oromia Regional State, has joined the local petroleum retail market by building two gas stations on the outskirts of the capital with a 40 million Br investment.

Once operational, the company will be the 30th fuel retail company in the country, which consumes 5.2 billion litres of fuel a year valued at three billion dollars. The nation’s consumption of petroleum has been growing at an average annual rate of 10pc for the last five years.

Before venturing into the businesses, the company conducted feasibility studies that suggested petroleum retailing and cross-country transportation as potentially profitable business areas, according to Eshetu Zeleke, the company’s CEO.

Planning to commence operations in a month, the company has fulfilled the requirement of the Ministry of Trade & Industry, which stipulates the construction of a minimum of two fuel stations and a fuel depot with a total capacity of holding 500,000lt.

The company invested 40 million Br for the construction of the two stations, which each sit on 5,000Sqm of land. The two stations are located at Gelan Condominium and the old customs station situated along the Addis Abeba-Adama Road.

It has also started construction of fuel stations in Dire Dawa, Bale Robe, Dur Bete, Metekel and Negele Borena and hopes to begin operating the two gas stations in the coming months, according to the CEO.

ODAA Energy has put in a request to the Ethiopian Petroleum Supply Enterprise (EPSE) to receive 30 trucks of fuel daily, which is about 1.4 million litres.

The Enterprise, the sole importer of refined petroleum products in Ethiopia since 1967, is reviewing the request, according to Alemayehu Tsegaye, communications director of the Enterprise.

The 29  operational oil retail companies operate approximately 800 fuel stations across the country, 120 of which are found in the capital, which consumes 65pc of all fuel imports, roughly 12.4 million litres daily.

The four big companies - NOC, Total Ethiopia, Yetebaberut Beherawi Petroleum and OiLibya - control 92pc of the retail market in the capital and a 75pc share of the petroleum market in the country.