Over 20 local, int’l investors express interest in tendering of 8 sugar enterprises

Addis Ababa, March 3, 2023 (FBC) – It is to be recalled that on 19 August 2022, the government of Ethiopia through the Ministry of Finance and Ethiopian Investment Holdings (EIH), issued an invitation to submit expressions of interest for the tendering of eight state-owned sugar enterprises namely Omo Kuraz 1, Omo Kuraz 2, Omo Kuraz 3, Omo Kuraz 5, Arjo Dedessa, Kessem, Tana Beles, and Tendaho (collectively referred as the Sugar Enterprises).

This initiative is part of the larger effort to transition to a competitive market structure and strengthen private sector growth in the sugar sector, the Finance Minister stated today in a statement.

In response to the invitation to submit an expression of interest (EOI), over twenty local and international investors have expressed their interest in the tender, the Ministry said.

The Government is now engaging with interested investors to receive early feedback for consideration on the envisaged policy reforms and thereafter issue a comprehensive Request for Proposal (RFP) that will outline the bid submission process.

The Government expressed gratitude to the interested investors for their willingness to take part in the privatization process and looks forward to their continued participation in the tender.