Wednesday, August 15, 2012

Cameroon, Indian investors target $113 mln sugar plant

Yaounde (Reuters) - Cameroonian and Indian investors plan to invest 60 billion CFA francs ($112.7 million) in a company that would grow sugar cane and process it, increasing Cameroon's white sugar output by about 50 percent, the jointly owned company said.

The operation in Cameroon's east will produce 60,000 tonnes of refined sugar per year by 2014, Justin Sugar Mills SA said in a statement.

The Central African nation currently depends on state-run SOSUCAM, which produces about 120,000 tonnes, less than the 200,000 tonnes it consumes each year.

Justin Sugar Mills said it owned over 155,000 acres of land in Bertoua in Cameroon's East Region. It also planned an electricity generation unit with a capacity of 16 megawatts, which would burn waste from sugar processing to power the factory and nearby villages. ($1 = 532.3680 CFA francs).
 (Reporting by Tansa Musa; Writing by David Lewis; editing by Jane Baird)

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