COMPLANT International discute en Jamaica sobre el traspaso de plantaciones de azúcar
A high level delegation from the Chinese firm COMPLANT International is currently in the island to get an update on the status of the divestment of state-owned sugar assets and the progress in the implementation of the agreement between COMPLANT and the Government of Jamaica regarding Frome, Bernard Lodge and Moneymusk.
Frome, Bernard Lodge and Monymusk sugar estates were divested to COMPLANT International on July 30, 2010 to the tune of US$9million and US$35 per hectare per annum for the accompanying lands; by agreement, the new owners are continuing their due diligence activities until early August when completion and formal handing over will take place. In the interim, SCJ Holdings, the current GOJ-owned operators of the three estates, have entered into an Transition Services Agreement to handle all the planting and other agricultural arrangements until COMPLANT takes over the business.
While in the island, Chairman of COMPLANT, Mr. Li Zhimin and his delegation are set to meet with Agriculture and Fisheries Minister Dr. Christopher Tufton, officials of the Sugar Divestment Enterprise and workers of the three estates to be divested.
The delegation is set to meet with stakeholders of the Frome Sugar Factory on Monday, April 18 at 9:00a.m.
The divestment of the three sugar estates is in keeping with the Government’s commitment to place the assets in the hands of private owners.