Corporation confident of achieving 70 percent of its GTP
Addis Ababa, 16 January 2014 (WIC) – The Ethiopian Sugar Corporation is confident that it would achieve 70 per cent of its Growth and Transformation Plan (GTP).
The five-year GTP of the sugar sector eyes building 10 new sugar factories and raising nation’s average annual sugar production capacity to 2.25 million tons.
In order to attain the target, the Corporation is undertaking expansion projects on the existing sugar factories while it is constructing new sugar factories at various parts of the country.
After assessing its three years performance in the GTP, the Corporation is convinced that it would attain 70 per cent of the high case scenario in sugar development sector.
“The Corporation would achieve 70 percent of its GTP through commencing sugar production in seven of its factories under construction,” Corporation’s director general, Shiferaw Jarso, said while opening a meeting organized to evaluate this Ethiopian fiscal year’s 6th month performance of the Corporation.
According to him, the first phase of Tendaho sugar factory is expected to enter production in the current Ethiopian budget year while the second phase of Tendaho, Beles 1 and 2, Kuraz 1, Kessem and Arjo Didessa sugar factories would commence production in 2007 E.C.
Over 92,000 job opportunities would be created in the remaining two years of the GTP period, the director general said.
On the other hand, Wolkit, Beles 3, as well as Kuraz 2 and sugar factories are expected to enter production in the first year of the second chapter GTP which is in 2008 E.C, he said.
The Corporation has now reached a stage of saving the foreign currency the nation was using to import sugar and is eyeing to earn 376 million US dollars annually by starting export of sugar as of 2007 E.C.
In addition to the sugar development, the Corporation is working to generate 197MW energy and produce 134,000 cubic meters of ethanol from the sugar factories by the end of the GTP period.
Heads of the corporation, sugar factory and sugar projects are in attendance of the two-day meeting organized to evaluate 6th month performance of the Corporation.
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