Ethiopian Sugar Corporation, the state agency in charge of sugar development in Ethiopia, aims to produce 483,532 tons of sugar during the current fiscal year of Ethiopia started July 8, 2019.
This is indicated by CEO of the Corporation, Weyo Roba, whose message is published in this month’s special edition of Ethiopian Sugar Corporation newsletter. The main goal of this year’s plan is to increase the product and productivity of the sugarcane plantations and factories, according to the CEO.
“To realize this goal, we have planned to produce 483,532 tons of sugar ad 21,417,140 liters of ethanol by 2019/20,” he said, admitting that the performance of the new sugar development projects was not fruitful.
The newsletter stated that Wonji Shoa, Metehara, Fincha, Kessema, Arjo Didessa, Omo Kuraz number 1 and number 3 sugar factories are expected to produce 78,100 tons, 100,296 tons, 157,517 tons, 67,945 tons, 12,736 tons, 23,809 tons and 43,129 tons of sugar, respectively. In addition, Metehara and Fincha sugar factories are expected to produce 8,587,500 and 12,829,640 liters of ethanol respectively.
To meet its target and complete other sugar development works, the Corporation is expected to allocate more than 37.7 billion birr (around $1.3 billion), according to the newsletter.
The investments of the Corporation also includes increasing the number of residential houses for employees to 17,807 from 14, 300 and non-residential houses to 496 from 276.
He also indicated that the government is plans to either partially of fully privatize six of the 13 sugar factories in order to fulfill the local demand of sugar and ease loan burden of the Corporation.