As the evaluation process for Ethiopia's ambitious sugar estate privatization program nears completion, anticipation is mounting over which investors have demonstrated the capabilities to resuscitate the large but underperforming assets.
Among the numerous multinational companies that thus far applied to take over management of the eight factories through long-term concessions are African conglomerate Dangote Cement and beverage giant Coca-Cola.
The estates slated for privatization via competitive bidding include Arjo Dedessa, Kessem, Omo Kuraz 1, Omo Kuraz 2, Omo Kuraz 3, Omo Kuraz 5, Tana Beles and Tendaho - which collectively hold massive tracts of fertile land but have faced issues of aging infrastructure and insufficient reinvestment under state control.
A committee assembled by the Ministry of Finance and Ethiopian Investment Holdings has spent weeks rigorously assessing each technical proposal submitted before the October deadline.
With its evaluations now slated for completion by October 20th, the Ministry is gearing up to unveil the pool of "qualified bidders" that have demonstrated financial and technical abilities to optimize productivity across the strategic sugar industry.
The selected firms will then progress to the subsequent bidding phase which involves submission of formal offers.