Jamaica sugar bids close today
Published:Friday | March 13, 2009 | 9:39 AM
Today is the deadline for investors to submit their bids to acquire Jamaica’s sugar assets.
It’s understood that several expressions of interest have been received from local and foreign investors.
They are bidding for the five Government-run sugar factories or some of them plus the Petrojam Ethanol Plant.
The Agriculture Minister Dr Christopher Tufton has said the Cabinet would move quickly to review the bids once the deadline expires.
Dr Tufton said there will be consultation with the Opposition before an announcement is made.
The Government was forced to put up its sugar assets plus the local ethanol plant for sale after a deal with Infinity Bio Energy fell through.
The Brazilian-based company was given two extensions to find the money to buy the factories and the ethanol plant.
However, after the deadline on January 31, it had still not found the money.
The Government then said it would not be able to wait any longer.
However the Prime Minister said this would not rule out the opportunity for Infinity to be re-engaged in the process.