Ethiopian Investment Holdings (EIH) has announced ongoing negotiations to transfer ownership of certain sugar plants to both local and international companies. EIH CEO Abdurehman EidTahir stated that bids for some sugar mills are open to foreign and local investors, with the government ready to engage in negotiations. The government aims to reform the sugar industry and is actively encouraging potential investors to submit bids for sugar mills located across the country. Abdurehman emphasized the need for private investors, including foreign companies, to tap into this significant market opportunity. He highlighted challenges faced by the seven sugar mills, including the necessity for intensive maintenance and substantial foreign currency for spare parts.

Source: Ethiopian News December 19, 2023 13:40 UTC