Monday, 05 September 2011 11:13
Posted by Syed Murtaza Gheblehzadeh
PORT LOUIS: Leading Mauritian sugar producer Omnicane is planning to develop a $180 million sugar factory in Kenya to fill a production gap, L'Express newspaper reported on Monday.
Omnicane chief executive officer Jacques d'Unienville said the sugar factory will be situated in the south of Kenya's port city of Mombasa and will initially access 17,000 acres of sugar cane.
The project will also include the construction of an 18- megawatt bagasse power plant and a 30,000-litre ethanol production plant.
"The project is in line with our vision to consolidate further our presence in the sugar and energy sector. It will also help in the internationalisation of our operations," d'Unienville said.
The firm's first half pretax profit rose 8 percent to 33.7 million Mauritius rupees ($1.2 million).
Copyright Reuters, 2010
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PORT LOUIS: Leading Mauritian sugar producer Omnicane is planning to develop a $180 million sugar factory in Kenya to fill a production gap, L'Express newspaper reported on Monday.
Omnicane chief executive officer Jacques d'Unienville said the sugar factory will be situated in the south of Kenya's port city of Mombasa and will initially access 17,000 acres of sugar cane.
The project will also include the construction of an 18- megawatt bagasse power plant and a 30,000-litre ethanol production plant.
"The project is in line with our vision to consolidate further our presence in the sugar and energy sector. It will also help in the internationalisation of our operations," d'Unienville said.
The firm's first half pretax profit rose 8 percent to 33.7 million Mauritius rupees ($1.2 million).
Copyright Reuters, 2010
...
JOHANNESBURG: South African miner Metorex, which is being taken over by Chinese metals group Jinchuan, reported a 155 percent rise in first-half profit on Monday, boosted by strong copper prices and higher output, and said it expected production to remain at current levels.
The company, with operations in the Democratic Republic of Congo (DRC) and Zambia, said adjusted headline earnings per share for the six months to the end of June rose 155 percent to 4.5 ...
SAN JOSE: The price of robusta coffee could fall next year on ample stocks even as prices of higher quality arabicas are expected to remain firm on tighter supplies, International Coffee Organization Executive Director Jose Sette said.
Overall coffee supply will meet demand but output from the upcoming harvest could vary among qualities as the world's leading coffee exporter, Brazil, enters a low production cycle, Sette told Reuters.
"I think we're in a state of approximate balance ...
JOHANNESBURG: South Africa's Mines Minister Susan Shabangu said she is confident that a government-set ownership target for blacks in the mining sector would be exceeded and, if the process was done right, the policy may no longer be needed.
The government's mining charter calls for 26 percent of the mining industry in Africa's largest economy to be transferred to black owners by 2014 as part an empowerment drive to rectify the disparities of white apartheid rule. ...
TEHRAN: Iran has sold its first consignment of crude on a new oil exchange after several false starts, Iranian media reported on Thursday.
The first trade on the market on the Gulf island of Kish, was for 500,000 barrels of Iran's "heavy export-grade crude" sold at Iran's official selling price (OSP), the reformist Sharq daily reported.
Iran usually sells its oil at announced OSP rate, revised each month, plus a variable figure, so selling at the ...
NAIROBI: The average price of top grade tea from Kenya, the world's largest exporter of black tea, eased for the third successive weekly auction on Tuesday to $3.43 per kg from $3.55 per kg, brokers said.
Africa Tea Brokers said in its weekly report that 101,136 (6.38mn kg) packages were offered for sale compared with last week's 106,935 packages, while 24.6 percent remained unsold, down from 27 percent that found no buyers in the previous auction.
Best ...
YAOUNDE: Cocoa exports from Cameroon, the world's fifth biggest grower, totalled 202,721 tonnes during the full 2010-11 season, up nearly 18 percent from the previous season's 172,177 tonnes, according to preliminary data from the National Coffee and Cocoa Board issued on Friday.
Cameroon's cocoa season runs from the beginning of August to the end of July, and authorities have said good weather was a major factor behind this season's increase in shipments.
Copyright Reuters, 2010
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