Ethiopia Sugar Manufacturing Industry Share Company announced that it has a plan to launch a trial production after four years.
The factory will also start producing and exporting sugar in five years.
Bitew Alemu, CEO of Ethio Sugar Manufacturing Industry Share Company said in a press conference Tuesday at Sheraton Addis that once production launched the factory will have a capacity of producing one million quintal of sugar in a year.
The company has already cleared the land of 5700 hectare for further agricultural activities, according to Bitew. In addition, soil fertility status survey has been conducted by the company.
As part of its social corporate responsibility, Ethio Sugar Manufacturing Industry Share Company has been working on the development of agricultural land and plans to construct health centers and other social facilities to the society, said Dr. Ersido Lendebo, Vice Board Chairperson of the company.
Ersido added the company has a plan to disburse 2 to 5 percent of its profit to pastoralists and the surrounding community.
Furthermore, the company has set a vision to privatize Metahara and Wonji Sugar factories.