Infinity Agrees to Develop Local Sugar Industry
http://www.jis.gov.jm/parliament/html/20080703T100 [2008-7-4]
Tag : Brazilian Sugar
Under the signed Heads of Agreement between the Government ofJamaica and Brazilian company, Infinity Bio-Energy Limited (IBE),the company has agreed to introduce methods aimed at improvingagricultural productivity and developing the local sugar caneindustry.
Minister of Agriculture, Dr. Christopher Tufton, in a statement tothe House of Representatives, yesterday (July 1), said the methodsspecifically include, but are not limited to: assisting farmers,through a farmers' development programme; providing them withassociated services, such as cane cultivation, harvesting, loadingand transportation; developing new varieties of sugar cane, eitherthrough a research and development programme of local varieties orwith the importation of suitable varieties developed by Infinityand Infinity's partners; and increasing mechanization andirrigation, when appropriate, to levels that maximize financialreturns.
Furthermore, Dr. Tufton informed that the company has agreed to"use its best efforts to identify alternatives which will promotethe reduction of the price of fertilizers and maintaining suchprices at no greater level than world market standards."
Prime Minister Bruce Golding on June 27, signed the Heads ofAgreement with IBE for the divestment of Government's assets in thesugar industry, paving the way for full divestment on September 30.
Under the agreement, the Sugar Company of Jamaica (SCJ) will stillbe managing the Government's assets at the five sugar factories andthe workers' status will not change before the final transfer ofassets on September 30. After the transfer of assets to Infinity,Government will retain a 25 per cent stake in the company for atleast three years.
Dr. Tufton said that Infinity is also expected to invest in themodernization and expansion of the industrial facilities,including, but not limited to: substituting obsolete equipment;improving cane unload and preparation; improving efficiency ofsteam and energy consumption; automation systems; transfertechnical management skills and best practices learned within theBrazilian sugar industry, in order to apply its expertise in theindustry to develop Jamaican technical and managerial skills.
The Minister pointed out that through Newco or otherwise, Infinitywould keep an experienced team locally and would provide trainingand incentives for the Jamaican professionals.
Newco is a company that is to be established to allow theGovernment to enter into a joint venture to carry on the businessof the sugar industry until the transition period ends on September30.
In addition, the Minister said the investors would "supply thelocal market with the products and volumes of sugar and sugarrelated by-products and will develop new products, diversifying itsrange of products, including but not limited to sugar, ethanol,molasses, cogeneration of energy from bagasse and bagasse pellets."
The company will also promote and support a number of socialprogrammes in the communities surrounding the sugar estates throughthe provision and maintenance of clinics, housing and sportsfacilities; financial support to schools and churches; and medicaland dental assistance.
Under the signed Heads of Agreement between the Government ofJamaica and Brazilian company, Infinity Bio-Energy Limited (IBE),the company has agreed to introduce methods aimed at improvingagricultural productivity and developing the local sugar caneindustry.
Minister of Agriculture, Dr. Christopher Tufton, in a statement tothe House of Representatives, yesterday (July 1), said the methodsspecifically include, but are not limited to: assisting farmers,through a farmers' development programme; providing them withassociated services, such as cane cultivation, harvesting, loadingand transportation; developing new varieties of sugar cane, eitherthrough a research and development programme of local varieties orwith the importation of suitable varieties developed by Infinityand Infinity's partners; and increasing mechanization andirrigation, when appropriate, to levels that maximize financialreturns.
Furthermore, Dr. Tufton informed that the company has agreed to"use its best efforts to identify alternatives which will promotethe reduction of the price of fertilizers and maintaining suchprices at no greater level than world market standards."
Prime Minister Bruce Golding on June 27, signed the Heads ofAgreement with IBE for the divestment of Government's assets in thesugar industry, paving the way for full divestment on September 30.
Under the agreement, the Sugar Company of Jamaica (SCJ) will stillbe managing the Government's assets at the five sugar factories andthe workers' status will not change before the final transfer ofassets on September 30. After the transfer of assets to Infinity,Government will retain a 25 per cent stake in the company for atleast three years.
Dr. Tufton said that Infinity is also expected to invest in themodernization and expansion of the industrial facilities,including, but not limited to: substituting obsolete equipment;improving cane unload and preparation; improving efficiency ofsteam and energy consumption; automation systems; transfertechnical management skills and best practices learned within theBrazilian sugar industry, in order to apply its expertise in theindustry to develop Jamaican technical and managerial skills.
The Minister pointed out that through Newco or otherwise, Infinitywould keep an experienced team locally and would provide trainingand incentives for the Jamaican professionals.
Newco is a company that is to be established to allow theGovernment to enter into a joint venture to carry on the businessof the sugar industry until the transition period ends on September30.
In addition, the Minister said the investors would "supply thelocal market with the products and volumes of sugar and sugarrelated by-products and will develop new products, diversifying itsrange of products, including but not limited to sugar, ethanol,molasses, cogeneration of energy from bagasse and bagasse pellets."
The company will also promote and support a number of socialprogrammes in the communities surrounding the sugar estates throughthe provision and maintenance of clinics, housing and sportsfacilities; financial support to schools and churches; and medicaland dental assistance.
Related News »
In Focus »
footwear exports
Last month, European footwear manufacturers proposed extending anti-dumping measures against ..
B2B Keywords:
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
Feature Products»
Hot Products: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 0-9
-
-
About Us -
Links -
Privacy Policy -
Terms of Use -
Site Map -
Contact Us -
Call Center: 0086-95105561 © 2007 Tootoo.com -
