South Africa’s TSB Sugar wants to produce sugar in Mozambique

10 October 2012

The TSB Sugar group, one of the main sugar producers in South Africa, has announced plans to invest US$740 million in a sugar factory and sugar can plantation in Massingir, a southern district of Mozambique, the group’s communications director said.

Speaking to financial news agency Bloomberg, Vusi Khoza also said that the group planned by mid 2013 to start building the factory in Massingir, which will be located next to its main centre of operations in South Africa, in the Mpumulanga region.

The communications director said that the group’s board of directors was now waiting for authorisation to use land provided by the Mozambican authorities and to sign an investment contract with the Mozambique Centre for Investment Promotion (CPI).

With TSB Sugar’s arrival in the market, three South African sugar groups will operate in Mozambique, where Tongaat Hulett and Illovo Sugar are already working. (macauhub)