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MCIA signs agreements with Landscope (Mauritius) Limited and DBM

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                                Minister Gobin expressed his satisfaction with the signing of the two agreements as they reflect the symbiosis between various institutions
                            
                            
                                                
                            
                                                            PORT LOUIS, Mauritius, January 17, 2022/APO Group/ --
                                                        
                            A lease agreement was signed today, during an official ceremony at the Caudan Arts Center in Port Louis, between the Mauritius Cane Industry Authority (MCIA) and Landscope (Mauritius) Limited for the construction of a storage facility sugar storage facility with a capacity of 150,000 tons in Riche Terre.



The MCIA also signed a Memorandum of Understanding with the Development Bank of Mauritius (DBM) for an advance crop finance loan to smallholder sugarcane farmers for cane replanting.

the Minister of Finance, Economic Planning and Development, Dr. Renganaden Padayachy;  the Attorney General, Minister of Agribusiness and Food Security, Mr. Maneesh Gobin;  and other eminent personalities were present on that occasion.

In his speech, Minister Gobin expressed satisfaction with the signing of the two agreements, as they reflected the symbiosis between various institutions that, he said, previously operated in silos.  He stressed that the interaction between the MCIA and the other two institutions was important as it would help reduce costs and provide access to financing.

He further noted that the Government was confident that, given the necessary framework, the Mauritian sugar cane sector had a bright future ahead of it.  He noted that the goal of producing 250,000 tons of sugar last year was met and indicated that the long-term goal is 400,000 tons per year.

Minister Gobin also listed some facilities and schemes available to planters and requested additional funds from the Ministry of Finance, Economic Planning and Development in order to further develop the agribusiness sector in Mauritius.

For his part, Minister Padayachy recalled that the sugarcane industry, as well as the agricultural sector in general, contributed greatly to the socioeconomic development of the country.  He stated that agreements such as the ones signed helped to develop a synergy between the institutions and played a key role in ensuring the economic development of Mauritius.

Dr. Padayachy stressed that despite the COVID-19 pandemic, the Government was determined to provide all necessary facilities to further develop the agricultural sector and entrepreneurship at the local level.  He added that every year, the Government would announce strong measures for these sectors, which would help accelerate inclusive development.

Lease agreement with Landscope (Mauritius) Ltd

The 2021-22 budget provides for the construction of a modern sugar storage warehouse with a capacity of 150,000 tons of bagged sugar, to be implemented by the MCIA in Jin Fei, Riche Terre Industrial Park.  The MCIA will use an area of ​​approximately 16 arpents of state land granted to Landscope (Mauritius) Ltd, for mixed use and port/logistics related projects, to implement this project.

A cumulative total sum of Rs 250 crore has been earmarked in the budget of FY 2021/22 and 2022/23 for this infrastructure capital project.

The objective is to relocate and increase storage capacity for bagged sugars under one roof within the port region with a view to facilitating access to and from the new warehouse and reducing storage costs instead of resorting to storage facilities of different private operators.  The savings made will contribute to increasing the income of the producers.

Memorandum of Understanding with DBM

The 2020-21 budget also provides for an amount of Rs 30 crore under the Cane Replanting Scheme to be allocated as a grant to small and medium-sized planters in order to encourage them to replant their fields and remain in cultivation. of cane

It should be noted that this procedure for the release of funds has been the subject of representations from individual sugarcane planters, cooperative societies and the Mauritius Cooperative Agricultural Federation Ltd. 

The DBM will provide a loan of up to Rs 50,000 per cent, repayable at an interest rate of 2% per annum, subject to the borrower meeting and/or satisfying all Bank terms and conditions. 

The loan will be repaid as follows: Rs 35,000 per cent by MCIA as grant item on behalf of eligible planters;  and the farmer is required to repay the balance of Rs 15,000 per penny along with related interest for two years in two consecutive annual installments.
MCIA signs agreements with Landscope (Mauritius) Limited and DBM

Minister Gobin expressed his satisfaction with the signing of the two agreements as they reflect the symbiosis between various institutions

PORT LOUIS, Mauritius, January 17, 2022/APO Group/ —

A lease agreement was signed today, during an official ceremony at the Caudan Arts Center in Port Louis, between the Mauritius Cane Industry Authority (MCIA) and Landscope (Mauritius) Limited for the construction of a storage facility sugar storage facility with a capacity of 150,000 tons in Riche Terre.

The MCIA also signed a Memorandum of Understanding with the Development Bank of Mauritius (DBM) for an advance crop finance loan to smallholder sugarcane farmers for cane replanting.

the Minister of Finance, Economic Planning and Development, Dr. Renganaden Padayachy; the Attorney General, Minister of Agribusiness and Food Security, Mr. Maneesh Gobin; and other eminent personalities were present on that occasion.

In his speech, Minister Gobin expressed satisfaction with the signing of the two agreements, as they reflected the symbiosis between various institutions that, he said, previously operated in silos. He stressed that the interaction between the MCIA and the other two institutions was important as it would help reduce costs and provide access to financing.

He further noted that the Government was confident that, given the necessary framework, the Mauritian sugar cane sector had a bright future ahead of it. He noted that the goal of producing 250,000 tons of sugar last year was met and indicated that the long-term goal is 400,000 tons per year.

Minister Gobin also listed some facilities and schemes available to planters and requested additional funds from the Ministry of Finance, Economic Planning and Development in order to further develop the agribusiness sector in Mauritius.

For his part, Minister Padayachy recalled that the sugarcane industry, as well as the agricultural sector in general, contributed greatly to the socioeconomic development of the country. He stated that agreements such as the ones signed helped to develop a synergy between the institutions and played a key role in ensuring the economic development of Mauritius.

Dr. Padayachy stressed that despite the COVID-19 pandemic, the Government was determined to provide all necessary facilities to further develop the agricultural sector and entrepreneurship at the local level. He added that every year, the Government would announce strong measures for these sectors, which would help accelerate inclusive development.

Lease agreement with Landscope (Mauritius) Ltd

The 2021-22 budget provides for the construction of a modern sugar storage warehouse with a capacity of 150,000 tons of bagged sugar, to be implemented by the MCIA in Jin Fei, Riche Terre Industrial Park. The MCIA will use an area of ​​approximately 16 arpents of state land granted to Landscope (Mauritius) Ltd, for mixed use and port/logistics related projects, to implement this project.

A cumulative total sum of Rs 250 crore has been earmarked in the budget of FY 2021/22 and 2022/23 for this infrastructure capital project.

The objective is to relocate and increase storage capacity for bagged sugars under one roof within the port region with a view to facilitating access to and from the new warehouse and reducing storage costs instead of resorting to storage facilities of different private operators. The savings made will contribute to increasing the income of the producers.

Memorandum of Understanding with DBM

The 2020-21 budget also provides for an amount of Rs 30 crore under the Cane Replanting Scheme to be allocated as a grant to small and medium-sized planters in order to encourage them to replant their fields and remain in cultivation. of cane

It should be noted that this procedure for the release of funds has been the subject of representations from individual sugarcane planters, cooperative societies and the Mauritius Cooperative Agricultural Federation Ltd.

The DBM will provide a loan of up to Rs 50,000 per cent, repayable at an interest rate of 2% per annum, subject to the borrower meeting and/or satisfying all Bank terms and conditions.

The loan will be repaid as follows: Rs 35,000 per cent by MCIA as grant item on behalf of eligible planters; and the farmer is required to repay the balance of Rs 15,000 per penny along with related interest for two years in two consecutive annual installments.

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