Sugar divestment deal could be sealed in two weeks
Patrick Foster
Wednesday, December 31, 2008
THERE was no word from the agriculture ministry up to press time last night on the status of negotiations between Government and Brazilian company Infinity Bio-Energy for the sale of the state-owned Sugar Company of Jamaica (SCJ).
However, chairman of the Jamaica Sugar Cane Growers Association (JSCGA) Allan Rickards told the Observer late yesterday that the deal could be inked as early as two weeks from today.
Sugar workers register before collecting their notice pay at the Bernard Lodge sugar factory in St Catherine on December 18. (Observer file photo)
"It is my understanding that representatives from Bio-Energy will be in the island in the next two weeks to sign the agreement," Rickards disclosed.
Today is three months since the original September 30 date for the signing of the deal that would see five sugar factories - Monymusk, Frome, Bernard Lodge, Inswood and Duckensfield - and the Petrojam ethanol plant at Marcus Garvey in Kingston sold to the Brazilians.
"There was an extension of three months after which any party could opt out of the deal," Rickards told the Observer last night.
He added that all the arrangements that formed part of the divestment package were now in a state of readiness.
However, a press release from the Ministry of Agriculture yesterday said only that Government had put in place transitional arrangements for the commencement of the 2008/2009 sugar-crop as negotiations continued with Infinity Bio-Energy.
"After consultations with the JSGA and trade unions respectively, arrangements are currently being finalised with Wray and Nephew and Worthy Park estates to accept and process some of the cane to be reaped by private cane farmers registered to Frome and Bernard Lodge," the release said.
Wray and Nephew and Worthy Park operate privately-owned sugar factories.
Two weeks ago Government paid out approximately $800 million in notice pay to employees of the SCJ with a promise of redundancy payments to begin next month.
The ministry said then that the redundancy payment process was initiated based on the advanced nature of the negotiations with Infinity Bio-Energy.
Patrick Foster
Wednesday, December 31, 2008
THERE was no word from the agriculture ministry up to press time last night on the status of negotiations between Government and Brazilian company Infinity Bio-Energy for the sale of the state-owned Sugar Company of Jamaica (SCJ).
However, chairman of the Jamaica Sugar Cane Growers Association (JSCGA) Allan Rickards told the Observer late yesterday that the deal could be inked as early as two weeks from today.
Sugar workers register before collecting their notice pay at the Bernard Lodge sugar factory in St Catherine on December 18. (Observer file photo)
"It is my understanding that representatives from Bio-Energy will be in the island in the next two weeks to sign the agreement," Rickards disclosed.
Today is three months since the original September 30 date for the signing of the deal that would see five sugar factories - Monymusk, Frome, Bernard Lodge, Inswood and Duckensfield - and the Petrojam ethanol plant at Marcus Garvey in Kingston sold to the Brazilians.
"There was an extension of three months after which any party could opt out of the deal," Rickards told the Observer last night.
He added that all the arrangements that formed part of the divestment package were now in a state of readiness.
However, a press release from the Ministry of Agriculture yesterday said only that Government had put in place transitional arrangements for the commencement of the 2008/2009 sugar-crop as negotiations continued with Infinity Bio-Energy.
"After consultations with the JSGA and trade unions respectively, arrangements are currently being finalised with Wray and Nephew and Worthy Park estates to accept and process some of the cane to be reaped by private cane farmers registered to Frome and Bernard Lodge," the release said.
Wray and Nephew and Worthy Park operate privately-owned sugar factories.
Two weeks ago Government paid out approximately $800 million in notice pay to employees of the SCJ with a promise of redundancy payments to begin next month.
The ministry said then that the redundancy payment process was initiated based on the advanced nature of the negotiations with Infinity Bio-Energy.
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