Hibir Sugar S.C, signed a memorandum of understanding (MoU) with the Ethiopian Metal & Engineering Corporation (MetEC) on Tuesday, October 1, 2013 for construction of its factory Fortune reported.

The MoU, signed at the MeTEC’s Hotel in Nifas Silk Lafto sub-city, is expected lead to a final contract in six months to build the factory.

 “We will construct the factory, filling all the gaps and coping with problems that might arise within Hibir,” said Kinfu Dagnew (Brig. Gen.), director general of MetEC.

Hibir has leased a total of 6,183ha of land for 40 years, as of March, 2013 in Jawi Wereda of Awi Zone in the Amhara Regional State, 610kms from Addis Ababa. The plantation of sugarcane on 2,940ha of land is expected to start this month.

Source: Fortune