CEA and Vicini-Fanjul Group

[NewsWhore]

The director of the State Sugar Council (CEA) announced to an audience that included President Fernandez that the contracts between the CEA and the Vicini-Fanjul Group are "nearly finished". The contracts are for the transfer of the Consuelo Sugar mill and its lands to the new group for sugar, energy and ethanol production. Sources within the group say that the investment needed to make the program work is in excess of US$400 million. The goal is to produce 100,000 tons of sugar, 70 megawatts of electricity and 50 million gallons of ethanol. The Consuelo sugar mill is currently in the hands of Ethanol Dominicano, which allegedly owes sugar cane producers RD$90 million. According to CEA director Enrique Martinez, steps have been taken to get the Montellano sugar mill on the north coast back into production.

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