Hammed Shittu in Ilorin
Bacita Sugar Company’s new management, Kia Africa Group Limited, said the best debt consolidation company will generate revenues of N46 billion, produce around 300,000 metric tons of sugarcane and refine around 204,000 metric tons by 2027.
In addition, he said that around 20,000 workers will be employed to drive the company to optimum production to ensure the economic growth of the country.
The company’s group director, Mr. Ife Emmanuel, said in Bacita town, Edu local government council area, Kwara state, while unveiling the roadmap for the revitalization of the newly acquired Bacita sugar best debt consolidation company
He said: “We have defined a 3 phase approach to the deployment plan as the first phase which will run from 2021 until part of 2023 – this is what we call the resuscitation phase. In this phase, agricultural activities will begin with land preparation, re-commissioning of the irrigation system, through to the sowing of sugar cane and possible commercial production of sugar cane.
The total area devoted to the production of sugar cane in this phase is 5,000 ha and simultaneously we will start the process of installing the new processing plant, refurbishing the existing equipment with lifetimes useful. As part of this phase, we will also set up the structure of the subcontracting program with a target of 5,000 farmers in this first phase. “
He added that “the second phase runs from 2023 to 2025 – It is known as the – Consolidation phase. During the phase, we will consolidate the farm and the refinery – continue to develop infrastructure, including processing capacity, expansion of irrigation facility and agricultural land, from 5,000 ha to 13,000 ha , the complete plant configuration, including grinding and refining.
“The goal for us, at the end of this phase, is to have milled at least 176,000 tonnes of sugar per year. Phase three runs from 2025 to 2028 – this is the expansion phase: after consolidation, in this phase we will increase operations, bringing capacity utilization to at least 80%. It will also lead to a further extension of agricultural land, from 13,000 ha to 21,000 ha.
In the 3rd phase, we would process up to 304,000 MT and we expect the company to become by 2027 a profitable and sustainable enterprise with an estimated turnover of 46.7 billion naira from agricultural operations.