Fiji Sugar Corporation undergoes review

 

Major projects are being put on hold by the Fiji Sugar Corporation as it undergoes a complete review under new CEO, Zimbabwe-born Graham Clark.

The FSC chair Vishnu Mohan said projects like the co-generation and ethanol plant in Rarawai, sugar refinery in Labasa and syrup mill in Penang have been stopped until further feasibility studies are undertaken.

The proposed ventures are seen as part of the industry’s diversification programme aimed at strengthening its future, but Mr Mohan said there was a need to consolidate first.

“Any business has got to generate enough cash to maintain sustainability on an ongoing basis. We can do as many projects as we want but at the end of the day the business must have the capacity to be able to repair the project costs and things like that,” he said.

“So it is a readjustment, a complete thorough review, giving the new management a chance to revisit that and come back to us.”

Radio OZ

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