News Column

Hiber Sugar On Farm Cleanup Duty

May 9, 2014



Hiber Sugar Share Company, among the early participants in the share-selling market, which was established in June 2009, will officially start farm clearing and preparation work on its 6,183 ha of land in Amhara Regional State, Awi Zone, Jawi Woreda, on Sunday May 4, 2014.

This event that will be attended by the Board of Directors of the company, shareholders and government officials will commence the 24 million Br sugarcane plantation investment project that will be undertaken in the Tana Beles drainage system.

The project that will consume an overall investment cost of 2.2 billion Br will, construct a factory in the vicinity of the farm, that will crush 4,400 tonnes of sugar cane a day. Established with the business objective of creating a competitive, profitable and sustainable sugar factory and be part of the growing sugar industry Hiber Sugar Factory was formed by 30 individuals with 600 shares (600,000 Br) on June 3, 2009. To date, the share company is the only private venture that is on the way to joining the sector.


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Source: AllAfrica