Salima sugar factory ready —Minister

Construction of the Salima Sugar Factory is expected to be completed at the end of October this year, Minister of Agriculture, Irrigation and Water Allan Chiyembekeza has said.

He, however, said  there is no sugarcane to process as work in the cane growing area was halted some time ago due to what he described as mismanagement of funds.

However, Chiyembekeza said the problem has been rectified and the sugar cane will be planted in the designated plots near and around the factory.

Green Belt Initiative (GBI) coordinator Henri Njoloma said government owns a 40 percent stake in the sugar factory while the rest is owned by two private investors.

He said the business venture is worth $90 million (about K50 billion).

The factory is being financed with $33.64 million (over K18 billion) Line of Credit (LoC) from India through its Export-Import Bank.