Gov’t seeking investors to operate Monymusk Sugar Factory
MIIC Author
Government is seeking investors to take over the Monymusk Sugar Factory in Clarendon, following the decision of Pan Caribbean Sugar Company to cease operations of the estate in 2018. This announcement was made by the Hon Karl Samuda, Minister of Industry, Commerce, Agriculture and Fisheries, while speaking with journalists at a briefing on December 30 at his New Kingston offices.
Minister Samuda said the Government has received several offers from potential investors and talks are at the preliminary stage to find “not just somebody who knows how to handle money, but somebody who knows about the industry.”
The agriculture minister said the Government is working on a strategy that will see the continued involvement of independent farmers and the aim is to ensure that we will never again “find ourselves in a position where our production is compromised by inadequate attention to the fields where all the money is made.”
Regarding the 2016-2017 crop islandwide, which is currently under way, Minister Samuda expressed optimism that there should be a significant improvement in sugar cane production this year. This, he said, is due to increased rainfall and the good weather last year.
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