Fiji Time: 10:33 PM on Thursday 25 May

Fiji Times Logo

/ Front page / News

FSC seeks $150m loan

Felix Chaudhary
Friday, February 21, 2014

FIJI sugar industry stakeholders will approach the EXIM Bank of India to negotiate funding of about $150million for cogeneration plants for the Rarawai and Labasa mills.

Sugar permanent secretary Lieutenant Colonel Manasa Vaniqi said a delegation led by FSC executive chairman Abdul Khan would meet officials of the Indian bank to obtain loans for the two plants.

"These are huge investments," he said.

"The boiler for the Labasa mill alone will cost us $19m and setting up a cogeneration plant at Rarawai in Ba will cost us $US70m ($F131.6m).

"However, in saying that, the return on this investment will also be lucrative for the industry, for farmers and for the country."

Lt-Col Vaniqi said industry stakeholders and the government were also looking at the viability of setting up a sugar refinery.

He said the associated costs had to be taken into careful consideration before any further development could be made.

"Building a refinery that will produce 30,000 tonnes of refined sugar annually will cost us $56m."








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.65220.6332
JPY 54.851351.8513
GBP 0.37360.3656
EUR 0.43350.4215
NZD 0.69610.6631
AUD 0.65080.6258
USD 0.48840.4714

from

$0.00

Exchange Rate updated on 25th, May, 2017

Today's Most Read Stories

  1. No to village bylaw
  2. Dipti's bold decision
  3. Florist turns rags to riches
  4. Civil service pay structure review
  5. Plans to install chief
  6. Sex crimes rise
  7. BRIEFLY
  8. Waveriders hit Biarritz
  9. Plea for assistance
  10. Climate funds

Top Stories this Week

  1. A-G sounds warning Sunday (21 May)
  2. Man wants house back Wednesday (24 May)
  3. Qoro on Pleass board Monday (22 May)
  4. Work cut out Monday (22 May)
  5. 'Past politicians' did not fix roads Saturday (20 May)
  6. Henry's debt to mum Wednesday (24 May)
  7. Ratu Naiqama set to return as MP Friday (19 May)
  8. Toorak youths distraught over lost jerseys Tuesday (23 May)
  9. Mystery chests, villagers warned Wednesday (24 May)
  10. Pillar of strength Wednesday (24 May)