Hiber Sugar Share Company has laid the cornerstone for the construction of the first private sugar factory in Ethiopia, according to Ethiopian Herald.

Metal Engineering Corporation (METEC) agreed with Hiber to undertake the construction of the factory.

Hiber Sugar Company was established with initial capital of 600,000. It received 6,183 hectares of land from Awi Zone of Amhara State. Hiber has 6,000 shareholders.

Source: Ethiopian Herald