Addis Ababa, Aug 3 - Paper manufacturer Anmol Products Ethiopia, promoted by India's Anmol group of companies, Sunday inaugurated its unit at Ginchi, about 80 km south of here.

The development is another feather in India's efforts to contribute more substantially to Ethiopia's developmental activities.

The most significant feature of the new paper factory, reportedly built at a cost of $4.8 million, is that it will use waste paper that is usually burnt or thrown away.

In addition to being environment friendly, the unit will be instrumental in creating direct and indirect job opportunities.

The inauguration ceremony was attended by Ethiopia's Minister of Trade and Industry Girma Birru, State Minister for Trade and Industry Ahmed Tusa, outgoing Indian Ambassador Gurjit Singh, senior officials of the zonal administration and members of the Ethiopia-India Parliamentary Friendship Group.

According to ambassador Singh, who was the guest of honour at the inauguration, India is playing a significant part in Ethiopia's overall development through more than 440 Indian companies in this East African country.

He also appreciated the Ethiopian government's efforts to create an environment conducive to foreign investment, and added that Indian investments which currently stood at about $4 billion, would touch $10 billion in a few years.