Beginning of Red1 Agriculture Paper Mill at Ethiopia

RED1COIN and ITech Philippines seal the memorandum of understanding with their Ethiopian counter part, Menkolel Trading PLC and Technosys ICT Solutiona and Systems Development PLC to establish and start the Agricultural Paper Mill in Ethiopia that will Produce a Paper coming from the bagasse and teff straw. This will be the first and only Paper Mill that will produce A4 and Legal size paper in the country, this will be the answer in their long time concerns in importing all the papers outside the country. With this project, the paper mill company will also export papers to other part of east Africa, the neighboring countries of Ethiopia such as Djibouti, Eritrea, Kenya, Somalia, North and South Sudan. Truly it a dollar earning company that Ethiopia will be proud of.

Present in the signing of agreements are Yonas Gebrezeher of Technosys, Haftum Berhe of Menkolel Trading PLC., and Dr. Angelito Argete representing RED1COIN and iTech Philippines

During the signing of agreements, some prospect distributors are also present to discuss the exclusive distributorship on their respective areas and countries that they can work with.