Tana Beles Sugar Factory Goes Online


Tana Beles Sugar Factory Goes Online

Tana Beles I Sugar Factory has commenced sugar production operations following trial runs.  Inaugurated last June in the presence of Prime Minister Abiy Ahmed (PhD), the factory has the capacity to produce 10,000qtl of sugar a day. However, officials say it will be producing around 200qtl daily for the remainder of the financial year. Construction on the factory, located in Awwi Zone, Amhara Regional State, began a decade ago. It was contracted out to the former Metals & Engineering Corporation (MetEC) at a cost of 235 million dollars. The state-owned contractor was expected to carry out the task in 18 months. However, the contract was terminated in 2018 following significant delays. China CAMC Engineering Co Ltd (CAMCE) then took over the construction. The factory sources its sugar cane from 13,000ha of land in the area irrigated with water from Beles River. Tana Beles is also among the 10 factories under the Sugar Corporation set to be privatised. The Sugar Corporation was established as a state-owned enterprise in 2010 to develop sugar estates and production, including for export markets. Several of its plants under construction have yet to be completed upon schedule, including four sugar plants in Omo Kuraz of the Southern Regional State.


Radar

Central Bank's Auction Sends Dollar Soaring to 135 Br

A dollar value against the Birr exceeds 135 during an auction the Central Bank held last week, offering 60 million dollars. Close to 27 banks made their bid where the weighted average was 135.61 Br for a dollar. The National Bank of Ethiopia (NBE) announced the results of the special foreign exchange auction, the second since monetary authorities floated the forex regime in early August last year. Last week's result reflects a weaker Birr than in the first when the average rate was 107.9 Br....


Radar

Ethio Telecom Bids to Dominate Ethiopia's Digital Future

An array of services from digital livestock tracking, push-to-talk/video communications to cloud-based banking, an education management system (EMS), and enterprise resource Planning (ERP) are available from the state-owned Ethio telecom. Ethio telecom has introduced seven new cloud-based digital services last week at the Skylight Hotel, on Africa Avenue (Bole Road), pledging to transform business operations, financial services, and education management. The company said that these solutions...


Radar

Addis International Convention Centre Inaugurates

The much-anticipated Addis International Convention Centre, spanning 40 hectares, was officially inaugurated last week. It is set to become the country's largest conference venue, designed to host both national and international events. The centre features two large halls, each accommodating 3,000 to 4,000 people. It also includes eight smaller meeting rooms, bringing its total capacity to 10,000 attendees. Two hotels, with a combined 1,000-bed capacity, will serve both local and internationa...