BUA Foods Plc said on Monday that it had received commendations from the National Sugar Development Council over the level of progress made at its wholly-owned subsidiary, LASUCO Sugar Company Limited.
The company said in a statement that over the years, it had invested heavily in the backward integration programme of the Federal Government under the supervision of the NSDC.
It said, “When fully completed, the over $300m integrated sugar factory will comprise a sugar mill with a capacity of 10,000 tons of cane per day, a sugar refinery with an annual capacity of 220,000 metric tonnes, a 35 megawatts power generating plant to fuel the factory with potential to supply the national grid, and a 20 million litres per annum ethanol production plant.
“The plantation also has a 3km airstrip of international standard, built to support its operations.”
The statement said the Executive Secretary, NSDC, Zacch Adedeji, commended the company during a working visit to the plantation in Lafiagi, Kwara State.
Adedeji, who thanked BUA Foods for its commitment towards the Backward Integration Programme of the government, expressed satisfaction with the level of progress made at the sugar factory.
He said, “At the sugar council, our aim is to locally produce 70 per cent of Nigeria’s sugar consumption, which is currently at 1.7 metric tons per annum. LASUCO is expected to play a pivotal role in achievement of this goal as it’s expected to contribute up to 25 per cent of the targeted local consumption based on its capacity.
“I am impressed with the level of progress I have seen here. All that’s required is to further develop the field to which I have seen the commitment of the BUA team to meet that.”
Addressing the NSDC team, the acting Managing Director, BUA Foods, Mr Ayodele Abioye, described the visit as timely, saying, “We thank the National Sugar Development Council. We are glad you like the level of work that has gone into this plantation and remain committed to fully attaining the backward integration programme.
“We believe at take-off; this enormous project will make a huge impact to our business and the aspirations of the council.”
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