DIVERSIFICATION plans by the FSC are proceeding well, according to executive chairman Abdul Khan.
In regards to the establishment of an ethanol plant, the FSC head outlined the progress that had been made.
"We have now received the final review report from the Brazilian company and this will be distributed to our consultant and members of the Ethanol Group," Mr Khan said.
"The next step is to finalise the existing strategic plan on bio-fuel to accommodate at least E10 blend as a transport fuel option."
Commenting on queries from this newspaper about plans to establish a sugar refinery and packaging plant, Mr Khan said developments on both fronts had occurred.
"In terms of the refinery, we have now completed the review and will soon embark upon the high level marketing of refined sugar as well as potential bulk shipment.
"We will also review the most beneficial option to establish the refinery.
"In terms of the packaging plant, we are presently gathering costs and hope to make the final decision by the end of this month. Soon after we will seek approval for funding to establish the packaging operation."
Mr Khan announced the FSC's plans to increase revenue by as much as $115million annually at the Asia Pacific Sugar Conference last year with the view to rake in up to $50m from ethanol production and about $90m from cogeneration.
He said the miller had to diversify if sugar was to remain sustainable and viable as an industry.