Govt support Infiniti sugar deal

Agriculture Minister, Dr. Christopher Tufton has maintained that the deal the government struck with Infiniti Bio Energy is a good one.



There have been many questions surrounding the deal after it was revealed that Infiniti Bio Energy was a company in deep financial woes.



A newspaper report last month indicated that the two-year old company recorded losses for its first years of operation.



Addressing parliament this afternoon Dr. Tufton said the government is convinced that the deal is a good one for the people of Jamaica.



Dr. Tufton said the new arrangement will have greater impact on the country’s energy and environmental policy as well as the viability of the country’s sugar cane industry.



He said if the agreement follows through the company will among other things double sugar cane production as well as work with private farmers to improve their supplies.



And he says Infiniti Bio Energy will inject US$25 million in the industry when it takes over operation of the industry.



He says the company will also inject US$33 million on or before the end of the first year and US$17 million on or before the end of the third year.