Dalol Oil Share Company formally announced its official launch at the inauguration of its sixth fuel station; in Suluta town, 25Km northwest of Addis Ababa in Oromia special zone.
The new fuel service station situated on 3,500sqm is a joint investment of the company and a local investor, costing close to four million birr.
Dalol previously had opened up fuel service stations in Alaba, Arba Mich, Hamuset and Gernde Wuha areas across Ethiopia. Two other fuel service stations are expected to become operational in Semera and Wolencheti city soon.
The company which was formed in October 2009 by seven shareholders had initially planned to start operations in September 2010 after making its first founding conference on April 2010, but several issues, including the long drawn out process of registering new members, the time it took to get a work permit from trade ministry, scarcity of city land plots, and the long term investment nature of fuel stations which discourages some investors, attributed to its delayed opening.
Dalol also stated that the original intended place for its Depot construction in Gelan city, 44Km east of Addis Ababa in Oromia special zone was changed to Wolenchiti city, 122Km south east and that this decision took time to implement.
Esayas Eyesuswork, CEO of Dalol Oil said the opening of the sixth fuel service station together with a depot marks the official launching of the company, after some delays and frustrations. The newly inaugurated service station provides all kinds fuel, lubricants, shops, washing facilities and cafes.
Esayas further said a fuel station which can accommodate trucks is also being built in the capital of the eastern Afar regional state Semera, 558Km east of Addis Ababa at a cost of about 5.5 million birr.
Seyoum Hailu, Mayor of Suluta city said that his city hopes to attract more investment like this to boost its potential and that it is ready to help with infrastructure and others additions that investors may request.
Dalol Oil Share Company currently has more than 1,250 shareholders and more than 65 million birr capital.