By Franklin Ocheneyi
“SERGE Capital LTD wish to utilize opportunity of big market in Africa more particularly Nigeria and has thus discussed with the Australian minister of agriculture on the planned decision of the Company to invest in 10,000 Tones of Cane per Day (TCD) Sugar plant expandable to 20,000 TCD in Nigeria.”
Mr. Greg Todd, the President SERGE Capital, disclosed this when he visited the Executive Secretary National Sugar Development Council, Dr. Latif Busari, in Abuja.
Mr. Greg said the Company will utilize technology in Australia as well as explore the possibility of integrating the proposed capacity with Australian sugar industry model.
He called on the Council to provide enabling investment climate for the Company to invest in Nigeria.
He explained that the Company is an investment driven international firm that explores and embark on investments activities in the area of agro-allied business worldwide.
The headquarters of the Company is in Heidelberg, Australia and branches in Lockhart, Cavan, Palm Beach (Australia), China and Nigeria.
The Company’s main source of working Capital is in China and the Company also partners with properties investment firms in China.
Responding, the Executive Secretary NSDC stated that Council does not go into direct sugar production, but is playing regulatory and promotional roles in local sugar production.
Busair said that the sugar refineries in Nigeria currently have the capacity to produce 3.0 Million Tonnes but the Country consumes only 1.5 Million Tonnes.
“The Federal Government encourages sugarcane to sugar investment and not refineries. Council can source for land through state governments or through Communities who directly provide the land for any interested sugar investor and commended the company for having interest in sugar sub-sector of Nigerian economy,” he said.