Minister for Sugar Industry, Charan Jeath Singh, has revealed that a major overhaul of the Fiji Sugar Corporation will require half a billion dollars.
Speaking in parliament, Singh says that the funding will be required for the next five years, for new plant materials and equipment.
He highlighted the need for urgent repairs at the mills to ensure the smooth operations of the industry.
Singh also pointed out that previous project funding from international banks, saw the current administration dealing with high interest rates.
He adds, those projects were costly and proven futile.
Additionally, Singh disclosed that corporate claims under the previous administration had cost FSC a staggering $31 million.
“The truth is that FSC is bleeding left, right and centre and this is the very people responsible for this homicide.”
With the current administration, Singh emphasized the goal is to reinstate the sugar industry to its former glory with the primary focus on repairs and maintenance to get the industry back to its track.
