Johannesburg - Zambia Sugar, a subsidiary of South African-based Illovo Sugar, has built an $80 million (R1 billion) sugar product alignment and refinery project (PAAR) in Zambia.
Gavin Dalgleish, the managing director of Illovo Sugar in Zambia, said the investment was taking place at a time when the world economy had recorded significant reductions in growth.
“This has impacted the Zambian economy and consequently, the current economic environment is characterised by high interest rates and rising inflation. For our part, the PAAR project speaks to the long-term confidence that Zambia Sugar has in the Zambian government, its economy and its people,” Dalgleish said.
The project scope included the construction of a modern, high-specification refinery to more than double current annual refined sugar production capacity to around 100 000 tons and increase annual sugar production capacity from 420 000 to 450 000 tons.
BUSINESS REPORT