2merkato

The Ethiopian 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.

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.

The Ethiopian Sugar Corporation is working to enhance the capacity of its leadership and executives to support the development of projects in the country announced the Corporation.

Developing the capacity of executives is important to develop the sector noted Abay Tsehaye, Director General of the ESC at a training organized for leaders and experts of the corporation.

The training was designed to focus on areas such as development, sugar development, globalization and Kaizen management.

The Ethiopian Sugar Corporation announced that a new national sugar policy is being prepared. The new policy will set the direction for import, export and consumption of sugar in the country, the corporation disclosed.

The Ethiopian Sugar Industry Group announced its commitment to completely replacing the country's sugar demand with domestic production within the next five years by scaling up sugar production from the current 3.6 million quintals to 13 million.