BUA Group com­mit­ted to sugar es­tates in Kwara, Kogi

Daily Trust - - BUSINESS - Mba­sug­hun Kaaba

In a bid to boost the Nige­rian Sugar In­dus­try, BUA Group has signed a pact with the Fed­eral Govern­ment till 2023 and is com­mit­ted to de­vel­op­ing two sugar es­tates in Kwara and Kogi states as part of its con­tri­bu­tion to strength­en­ing the lo­cal sugar in­dus­try.

Al­ready, BUA’s 300mil­lion dol­lars in­vest­ment in its sub­sidiary, Lafi­agi Sugar Com­pany (LASUCO), is one of the largest pri­vateled in­vest­ments in that re­gion of the coun­try. When it be­comes fully func­tional, BUA Group’s $300mil­lion in­vest­ment in the 20, 000 hectares Lafi­agi Sugar Es­tate which cov­ers a sugar plan­ta­tion, sugar mill, re­fin­ery and ethanol plant and is ex­pected to pro­duce about 1.5 mil­lion met­ric tonnes of raw sugar an­nu­ally, 25mil­lion litres of ethanol, gen­er­ate 35megawatts of elec­tric­ity and cre­ate em­ploy­ment op­por­tu­ni­ties for over 15,000 peo­ple di­rectly and in­di­rectly.

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