Ethio Sugar Acquires Agro-Processing Company for 214m Br

January 15 , 2022


Ethio Sugar Acquires Agro-Processing Company for 214m Br

Ethio Sugar Manufacturing Industry, a share company involved in agri-business, has acquired an agro-processing plant in Hamer, Omo Zone, Southern Regional State, for 214 million Br. Ethio Sugar acquired the plant, laid on 10,000ht of land, from the Development Bank of Ethiopia (DBE) after the latter foreclosed on the agro-processing company last year. Ethio Sugar's executives plan to plant sugarcane on the farmland of the newly acquired company and hope to create 5,000 job opportunities once the venture becomes fully operational.


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