Cabinet has approved plans for a new multi-purpose factory that will transform the sugar industry, and potential financiers seem enthusiastic about it.
The factory’s products will include specialized and refined sugar, and refined molasses geared to producing quality rum.
This is the word from Minister of Agriculture Dr David Estwick and chairman of the Barbados Cane Industry Corporation Dr Atlee Brathwaite, who told journalists yesterday that the factory, which will cost about US$200 million (BDS$400 million), will come on stream by 2016 and be situated with an adjoining three acres of land at the site of Andrews Factory in St Joseph.
The project, which was announced last year, is being dicussed with several funding agencies, Chinese investors and other private independent local and regional financial agencies, Brathwaite said. (RJ)
