Jamaica: Chinese company completes buying of SCJ estates

On 30 July the Jamaican government and the Chinese company Complant signed documents to divest the final three sugar estates under the Sugar Company of Jamaica (SCJ): Monymusk, Bernard Lodge and Frome.
The Jamaican Minister of Agriculture said the deal has two parts; one is the purchase of the estates and the leasing of some 30,000 hectares with a price tag of around USD 10 million; the other to conduct a feasibility study for the construction of a 200,000-tonne refinery and an ethanol plant. Complant operates in other sectors as well, and in Jamaica has built the Trelawny Stadium and a convention centre in Montego Bay.

The sale will be effective at the end of the 2010-2011 harvest which allows Jamaica to deliver 100,000 tonnes of sugar of a forward sale agreement with Tate & Lyle.

Complant says it operates six sugar companies on leasing contracts: the Save Sugar Complex in Benin, Anie Sugar in Togo and Magbass Sugar in Sierra Leone, all in West Africa; and three factories in Madagascar, the Ambilobe, Namakia and Morondava. Complant controls some 200,000 tonnes of sugar per year, with half of it exported to the European Union.

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