This discovery adds to Ethiopia's existing oil and natural gas deposits found in six other locations across the country, including Mekele, Metema, South Omo, and Gambella.
Set to be launched in November 2024, the Ethiopian Securities Exchange (ESX) will be a major breakthrough drawing significant investors and funds.
The plant, which cost 250 million Birr (Sh568.1 million), is the first of its kind in the region and can assemble 10 cars per day.