Sugar Trading – Cameroon Signs Letter of Intent of Sugar Company
Yaounde, Cameroon Africa. (Cameroon News) – The government of Cameroon has signed the Letter of Intent of Forzi Sugar Company Limited, valued at FCFA 150 billion, the President of the Forzi Sugar Company Limited, Forzi Nkemmayang said in a press release.
Cameroon SUgar Cane
The Letter of Intent is for the debenture programme and also intended for funding by funders and foreign governments of the operations of the company, the release published in Monday, September 19, 2011 issue of the local English Language bi-weekly newspaper, The Post explains.
Forzi Sugar Company Limited is to be located in Efolofo Village in Mbonge Subdivision of South West Cameroon.
The FCFA 150 billion in the Letter of Intent, Forzi Nkemmayang said, will be used to construct a sugar plant in Efolofo Village with an annual production of 300,000 tons of sugar, construct a 60 MW Cogeneration Electricity Plant from sugar by-products, set up six developmental mechanised sugar cane plantations in the South West Region.
The company also plans to construct an Ethanol Plant with a capacity of 60,000 litres per day, produce Ethanol Fuel from sugar by-products, provide social amenities in the locality , create 6,000 jobs and construct residential houses for workers.
“It will be noted that Forzi Sugar Company Limited intends to, in its First Phase of Investment Programme, invest FCFA 236.7 billion in the sugar sub sector of the economy of Cameroon”, the press release states.
Cameroon’s Minister of Industries, Mines and Technological Development, Badel Ndanga Ndinga and the President of the Sugar company, Forzi Nkemmayang signed a protocol agreement for its setting up on April 16, 2008 in the capital city, Yaounde.
The company will specialises in the production of sugar, ethanol and electricity.