Sugar Corp Signs Deal for 3.6b Br HQ Construction

Jan 1 , 2022

The Sugar Corporation has inked agreements with the Chinese-owned Qingjian Group and TNT Construction, a domestic contractor, to erect a 35-storey headquarters building in the Mexico area. Slated to cost 3.6 billion Br, the building will lie on 4,419sqm of land. The contractors have agreed to accept the full payment in Birr. The Corporation's executives say the building will help it save on expenditures for the headquarters it rents. They plan to lease additional space in the building to generate additional income. The Sugar Corporation was established as a state-owned enterprise in 2010 to develop sugar estates and production, including for the export market. It has faced operational difficulties in recent years, leading to consecutive losses. Many of the 10 plants under construction have yet to be completed upon schedule, including four sugar plants in Omo Kuraz of the Southern Regional State.



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