Massingir Agro-Industrial (MAI) will produce 500,000 tons of sugar and 240 million litres of ethanol as of 2016/17, said the chief executive of the South African-Mozambican consortium cited by Mozambican daily newspaper Notícias.
Massingir Agro-Industrial is a consortium made up of South African group TSB Sugar, with a 51 percent stake, and Mozambique’s Sociedade de Investimentos Agro-Industriais do Limpopo (SIAL), with the remaining 49 percent. Chief executive Octávio Muthemba said that the company was now waiting for a land use authorisation to begin its work.
Muthemba said that the factory would be located in the sugar acne production area, which covers a total of 37,000 hectares, 12,000 of which belong to SIAL. Total investment in the project is estimated at US$740 million.
“Conditions have been set up to move ahead with the project, which is due to start exporting sugar in 2017,” said Muthemba.
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)