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[Jan 2018] Hiber Sugar S.C Latest Ethiopian News | Ethiopian Business Directory & Portal - Addis Biz

Hiber Sugar’s Troubles Strike a Sour Note

Hiber Sugar, a share company created in 2009 to help meet the sugar demand in Ethiopia, has still not produced a kilo of sugar and is facing demands from angry shareholders who feel its latest plan to buy government-owned sugar factories is misguided.

During the company’s annual meeting on January 17, 2017, a committee made up of shareholders put forward the option of moving to a sector other than sugar development or closing the company altogether. They will meet again and decide the fate of the company within a month.... Read More

Hiber Sugar S.C to begin construction of factory

The long awaited Hiber Sugar S.C., once on the verge of bankruptcy, is now evaluating two separate bid processes, one to hire a company to conduct a feasibility study and another to provide consultancy services for construction of the plant.

Metal & Engineering Corporation (MetEC) will undertake the construction of the factory as a turnkey project. The two sides have signed a Memorandum of Understanding in October 2013, leading to a contract worth 250 million dollars in July .

According to sources close to MetEC,

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