Maputo, Mozambique — ESI-AFRICA.COM — 25 November 2011 – A group of investors linked to Tsb Sugar “’ a South African company that produces refined and brown sugar for the South African and international markets “’ plans to re-launch the failed Procana project for bio-fuel production in Massingir, in the Mozambican province of Gaza.
Mozambican daily newspaper “Notícias” reports that company officials were received by the governor of the province Raimundo Diomba, to whom they stated their interest in immediately re-launching the US$740 million project. It will be known as the Massingir Project for Biofuel Development.
Notícias also said that the group of investors intended to create 500 permanent jobs and 7,000 seasonal jobs, although it had mentioned the need for an economic feasibility study to be carried out in order to better define the phases of execution of the project.
The Procana project came to a halt last year when the Mozambican government decided to cancel the right to use land of investors due to non-compliance with some contractual clauses.
Tsb Sugar, which was founded in 1965, is one of the largest muscovado and refined sugar producers and is a fully-owned subsidiary of Remgro Limited, a company listed on the Johannesburg Stock Exchange.