Ethiopian Sugar Corporation has supplied over 4.3 million quintals of sugar to consumers during the fiscal year. More than 1.8 million quintals of the sugar supplied to consumers was imported by the government to stabilize the market according to the corporation report.
The difference of 2.6 million quintals was produced by locally by Fincha, Metehara and Wonji-Shoa factories. The factories were also able to produce more than 11 million liters of ethanol during the same period.
In related news the Sugar Corporation signed a 500 million US dollar deal with the China Development Bank. The loan is intended to finance the construction of two refineries as part of plans to double output in the next ten years.The Ministry of Finance and Economic Development and the Sugar Corporation signed a Memorandum of Understanding for the refineries to be built by the Metal Engineering Corporation in the Southern Regional State.
It is to be remembered that the Sugar Corporation launched the development of 10 plantations and refineries last year as part of its objectives to make the nation one of the 10 largest sugar exporters in the world. The plan calls for increasing the production capacity of the nation to 2.3 metric tons which is significantly higher than the 265 thousand tons produced by the country last year.
Source: Walta Info
