Dangote Group Commits $700 Million To Sugar Production

By Mod2   2 weeks ago   43
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The management of Dangote Sugar Refinery Plc has said it is committing over $700m to its sugar projects to support the Backward Integration Policy of the Federal Government to make Nigeria self-sufficient in sugar production. According to a statement issued on Sunday by Dangote Industries Limited, the company disclosed this to visiting members of the Nasarawa House of Assembly on Friday.

The company noted that Nigeria was one of the sub-Saharan Africa’s largest importers of sugar, second only to South Africa with an annual import of over $337m.

The Dangote Sugar control but assured the lawmakers that with the finishing touch of its sugar projects in Nasarawa and Adamawa under the BIP, the kingdom might be saved more than 1/2 of the foreign exchange expended on sugar imports yearly.

It added that the funding might additionally raise its humans as other people-oriented infrastructures might come with the sugar tasks.

The nation lawmakers recommended the Dangote Group for preference of the nation for the project and the extended pace with which the venture was being accomplished, no matter occasional delays arising from communal disagreements.

General Manager for the BIP, Dangote Sugar, John Beverley said whilst the manufacturing facility turned into fully operational, it'd have the ability to overwhelm 12,000 tons of cane according to day, while 90MW electricity could be generated for each the enterprise’s use and host groups.

He additionally disclosed that some 500km roads in all might be built to ease transportation in the location. He solicited the support of the lawmakers in controlling the threat of land encroachment by settlers and itinerant farmers.

The Speaker of the Nasarawa State House of Assembly, Ibrahim Abdullah, and his team participants, who were performed round the agency’s 78,000 hectares BIP in Tunga Awe Local Government Area commended the enterprise for the challenge.

Abdullah stated that it might now not simplest open up opportunities in the state but in Africa as a whole, and stated the lawmakers were prepared to associate and assist the company closer to the realisation of the sugar venture via applicable law.

When the phase II of the venture is finished, in keeping with the organization, it's going to make it the biggest sugar refining plant in Africa.

[NewsNaira]


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