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Petrojam Ethanol stands alone
Published: Wednesday | February 18, 2009
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Petrojam Ethanol Limited will remain a sweetner in the sugar divestment package that is weighted down by loss-making assets.
The new deadline for bids is March 13.
Investors may bid for the assets en bloc or in part, but the sugar negotiating team will give preference to the former, said an advertisement running since the weekend.
Its not clear what Petrojam Ethanol Limited, whose arms length value is estimated at US$30 million or more, has been twinned with in the packages.
The packages as disclosed on the sugar team's website include:
1. Monymusk Estate in Claren-don, including 7,192 hectares of sugar cane land; 1,550.6 hectares of factory and related land including office buildings, and housing accommodation for workers, equipment and chattels. Land in cane amounts to 3,492 hectares, 1,635 in fallow, while 2,065 hectares has been out of cultivation for more than 12 months.
2. Frome sugar factory in the parish of Westmoreland comprises of 5,568 hectares of sugar cane land and 448.5 hectares of factory and related land; 4,827 hectares of cane land; 635 hectares in fallow and 106 hectares out of cultivation for more than 12 months.
3. St Thomas Sugar Company Limited (STSC) has 1,127 hectares of sugar cane land while factory and related lands make up 147.5 hectares including office buildings and housing accommodation for workers as well as equipment and chattels. The sugar cane land are broken down as 1,103 hectares of cane and 25 hectares of fallow.
4. Hampden Estate in Trelawny comprises of a 'moth-balled' sugar factory, a distillery, 1,550 hectares of sugar cane; 747 hectares of factory and related land; Hampden, Gayles Valley and Tilson great houses; 149 hectares of land out of cultivation for more than 12 months, 680 hectares in cane; and 335 hectares in fallow.
5. Long Pond sugar also in Trelawny, consist of a sugar factory, office buildings, distillery, housing accommodation for workers; 1,740 hectares of cane land, 5,789 hectares of factory lands; four great houses - Vale Royal, Arcadia , Hyde Hall and Swanswick; land in cane amount to 1,430 hectares, 137 hectares of land in fallow, and some 172 hectares of land out of cultivation for more than 12 months.
6. Bernard Lodge Estate in St Catherine has a sugar factory, sugar cane land, office buildings, housing accommodation for workers, a warehouse and a laboratory; 5,371 hectares of sugar cane land and 267 hectares of factory and related land.
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Whoever ends up with the Sugar Lands, this will signify the "Death Knell" of SUGAR in Jamaica as we used to know it. Because cane is one of the ingredients along with corn for biofuel, I'm partial to Petrojam. Let's hope where possible, they keep enough sugar in production to serve the domestic demand...
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Boy! Aren't we living in interesting times?
Published: Wednesday | February 18, 2009
----------------------------------------
Petrojam Ethanol Limited will remain a sweetner in the sugar divestment package that is weighted down by loss-making assets.
The new deadline for bids is March 13.
Investors may bid for the assets en bloc or in part, but the sugar negotiating team will give preference to the former, said an advertisement running since the weekend.
Its not clear what Petrojam Ethanol Limited, whose arms length value is estimated at US$30 million or more, has been twinned with in the packages.
The packages as disclosed on the sugar team's website include:
1. Monymusk Estate in Claren-don, including 7,192 hectares of sugar cane land; 1,550.6 hectares of factory and related land including office buildings, and housing accommodation for workers, equipment and chattels. Land in cane amounts to 3,492 hectares, 1,635 in fallow, while 2,065 hectares has been out of cultivation for more than 12 months.
2. Frome sugar factory in the parish of Westmoreland comprises of 5,568 hectares of sugar cane land and 448.5 hectares of factory and related land; 4,827 hectares of cane land; 635 hectares in fallow and 106 hectares out of cultivation for more than 12 months.
3. St Thomas Sugar Company Limited (STSC) has 1,127 hectares of sugar cane land while factory and related lands make up 147.5 hectares including office buildings and housing accommodation for workers as well as equipment and chattels. The sugar cane land are broken down as 1,103 hectares of cane and 25 hectares of fallow.
4. Hampden Estate in Trelawny comprises of a 'moth-balled' sugar factory, a distillery, 1,550 hectares of sugar cane; 747 hectares of factory and related land; Hampden, Gayles Valley and Tilson great houses; 149 hectares of land out of cultivation for more than 12 months, 680 hectares in cane; and 335 hectares in fallow.
5. Long Pond sugar also in Trelawny, consist of a sugar factory, office buildings, distillery, housing accommodation for workers; 1,740 hectares of cane land, 5,789 hectares of factory lands; four great houses - Vale Royal, Arcadia , Hyde Hall and Swanswick; land in cane amount to 1,430 hectares, 137 hectares of land in fallow, and some 172 hectares of land out of cultivation for more than 12 months.
6. Bernard Lodge Estate in St Catherine has a sugar factory, sugar cane land, office buildings, housing accommodation for workers, a warehouse and a laboratory; 5,371 hectares of sugar cane land and 267 hectares of factory and related land.
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Whoever ends up with the Sugar Lands, this will signify the "Death Knell" of SUGAR in Jamaica as we used to know it. Because cane is one of the ingredients along with corn for biofuel, I'm partial to Petrojam. Let's hope where possible, they keep enough sugar in production to serve the domestic demand...
__________________________
Boy! Aren't we living in interesting times?
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