Agreement Signed to Construct Ethiopian Sugar Factory

The Metal and Engineering Corporation and the Sugar Corporation signed an agreement to build Kesem Sugar factory with Complant, a Chinese company. Kesem Sugar factory is one of ten new sugar factories to be built in Ethiopia.

The agreement was reached for the Metal Engineering Corporation to consult with Complant for the design of the factory. The Corporation will construct the factory and install machines as well as handling other civil works.

The 150 million US dollar in financing required for the construction of the factory will be funded through a loan from the Chinese Development Bank.

The agreement was signed by Abay Tsehaye General Director of the Sugar Corporation, Colonel Tena Qurundu Deputy Director of the Metal Engineering Corporation and Ma Mazean Executive Manager of Complant.

Kesem sugar factory will be built in Afar Regional State and is expected to have the capacity to produce 250,000 tons of sugar and 20,000 m3 ethanol.

It is to be remembered that The Ethiopian Sugar Corporation announced plans to raise national sugar production from 300 thousand to 2.25 million tonnes annually. The corporation has begun extensive efforts towards increased sugar production according to Yilma Tibebu Corporation Public Head.

Expansion projects have begun at Metehara, Wonji Shoa, Methera sugar factories to increase sugar production. The increase in production hopes to meet demands for sugar in the local market as well increasing exports to the global market.

Source Ethiopian Herald  
 

Exchange Rates

Selling
Buying
USD 38.9583  38.1944 
EUR 46.9175  45.9975 
GBP 49.6540  48.6804 
CAD 27.2256  26.6918 
AED 9.5978  9.4096 
CHF 41.3345  40.5240 
USD 38.8126  38.0516 
GBP 49.4239  48.4548