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Construction of an irrigation dam for the 4.8 billion Ethiopian Birr Wolkayit Sugar Development Project will be launched soon, the Ethiopian Sugar Corporation said.

Project manager with the corporation Amenay Mesfin told journalists that the dam will enable to develop sugarcane on 50,000 hectares of land.

The Ethiopian Sugar Corporation is in the process of finalizing expansion projects started on existing sugar factories in the shortest time possible said Asfaw Dingamo, Advisor to the General Director of the Corporation and Deputy Director General of Legal and Public Relations.

The construction of new factories such as the Wendji-Addis factory is also progressing well according to Asfaw. Sugar Corporation is in the process of launching new sugar development projects along with the infrastructural support systems of the sugar project such as road networks and irrigation he added.

The corporation is committed to building ten new sugar factories in the coming years to launch the export of sugar internationally explained Asfaw. The Corporation is also offering capacity building trainings for its managerial staff including project coordinators.

A Sugar development project is in progress in Tigray Regional State, Ethiopia according to Abaye Tsehaye, Director General of the Ethiopian Sugar Corporation.

More than 40,000 hectares of land has been allocated for a sugarcane plantation, with 10,000 earmarked for the construction of a sugar factory with quarters for employees explained Abaye.

The factory is expected to create employment for 10,000 people as well as enhancing the irrigation development in the area he said.

The new sugar development projects launched in Ethiopia have created more than 28 thousand job opportunities in the last financial year according to the quarterly newsletter issued by the Ethiopian Sugar Corporation.

The projects launched in various parts of the country have created jobs for surrounding communities in Tendaho, Kuraz, Wolkite and Beles areas noted the newsletter.   

The communities that adjoin the sugar development projects have also benefited from the infrastructural work that is part of the projects and includes the construction of roads and schools as well access to running water said the Corporation. 

Ethiopian Investment Summit 2012 is to present investment opportunities in Ethiopia to representatives at the World Economic Forum on Africa to be held in Addis Ababa, Ethiopia in May of 2012.

The business summits plans to present the opportunities available in Ethiopia to international investors said Henok Assefa Managing Partner of Precise Consult International, organizing the event in collaboration with local and international partners.