(Dow Jones Commodities News via Comtex) — DOW JONES NEWSWIRES
Zambia Sugar PLC’s (ZSUG.ZM) expansion project remains on course for implementation despite the effects of the global economic downturn, Zambia News and Information Services reports Friday.
The state-owned news agency quoted Zambia Sugar’s Corporate Affairs Manager Love Sievu as saying the company won’t cut any jobs.
The sugar expansion project will enable the company increase annual sugar production to 440,000 metric tons by 2010 from the current 250,000 tons.
According to Sievu, Zambia Sugar has 40,000 metric tons of excess sugar for both industrial and domestic use. The company’s 2009-10 sugar crushing season is expected to start in March.
Sievu also said up to 500 hectares of sugar plantations haven’t been harvested and the company will produce 15,000 tons of sugar when it crushes them in March next year. Sievu didn’t state reasons why the canes hadn’t been harvested.
Zambia Sugar is owned by South Africa-based Illovo Sugar Ltd. (ILV.JO), Africa’s leading sugar producer.
By Nicholas Bariyo, contributing to Dow Jones Newswires; +256-75-2624615; firstname.lastname@example.org
Dow Jones Newswires
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