India gives $11.1 million for modernization of MCP

The Melkcentrale which is generally also known as the MCP will receive a financial injection of $11.1 million to modernize its production line. The financial injection which is part of a concessional loan from the credit line with India will be paid back over the next 15 to 20 years at an interest rate of 2% per year. The first five years will be a moratorium period.

Ajay Rana, the representative of the Exim Bank of India which has granted the loan, pointed out that the state bank is willing to support more financing programs for Suriname’s production sectors. Several agreements were reached during President Ramnath Kovind’s visit to Suriname in June 2018. “We are looking forward to the further strengthening of the trade and investment potential between our countries. We want to help the government of the Republic of Suriname to facilitate investments from Indian companies in the private sector as this would not only boost the local economy but also help create jobs,” Rana told Times of Suriname.

The director at the MCP, Dewkoemar Sitaram, pointed out that the state milk company urgently requires an upgrade in order to keep up with international standards and production processes. The new machines and equipment that will be bought will beef up the quality and production of the company’s milk products. “Our existing plant will be upgraded and a new plant will be constructed for the production of sterilized milk,” said Sitaram who added that “we will produce sterilized milk that can be kept on the shelves unrefrigerated for 3 to 6 months and maybe even a year.”