This blog is on General Electric Market Analysis. General Electric is an American multinational conglomerate corporation, based in New York and Fairfield.
Sunday, 3 November 2013
Sudan’s White Nile Sugar Co. signs procurement agreement with General Electric
November 3, 2013 (KHARTOUM) - The White Nile Sugar Company (WNSCO) announced on Sunday that it has signed an agreement with the US-based General Electric (GE) by which it will receive parts and services for its billion dollar sugar plant.
In a press release, WNSCO said that GE received clearance from the Office of Foreign Assets Control (OFAC) which enforces the decade-long sanctions imposed by the US on Sudan.
The sugar company said that GE will compensate it for the losses it incurred last year over the failure to deliver the main software needed to operate the plant citing US sanctions.
This forced WNSCO to seek a last minute postponement of the widely publicized inauguration which was to be attended by Sudanese president Omer Hassan al-Bashir and many high-profile guests. Read more.
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GE
Location:
United States
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