Firms Partner To Build Sugar Refinery

Agribusiness company, Ellah Lakes Plc, has announced a partnership with Montserrado Investment Limited via a joint venture for the development of  600tonnes of cane per day sugar refinery.
Spokesperson of Ellah Lakes Plc, Geraldine Ofoluwa, who made the disclosure in a statement on the Nigerian Exchange Limited recalled that in December, 2021, the company sealed a similar deal with the Enugu State Government to boost rice production through expansion of Ada Rice Company.
The statement said the partnership, which is a milestone, will help advance the National Sugar Master Plan (NSMP) initiative championed by the National Sugar Development Council (NSDC) in the nation’s quest for self-sufficiency in sugar.
“The Sugar Processing facility is expected to run on 100% renewable power, and the period from construction to completion and commissioning, is expected to be 24 month,” the company said.
The Chief Executive Officer if the company, ChukaMordi, on his part, said “this is a significant landmark for the Company in fulfilling our strategic objective of diversifying our portfolio and production base and we’re very excited to be working with Montserrado.
“We are very pleased at this collaboration and look forward to a mutually beneficial, valuable and fruitful venture”, he said.
Last October, Ellah Lakes began a partnership with the Ekiti State Government geared towards developing the state’s biodiversity and landscape, and, in turn opening up opportunities for wealth creation.