Bids open for sugar factories

The Government has reopened the invitation for bids to privatise the sugar industry after efforts to sell sugar factories to a Brazilian company failed last month.

In a newspaper advertisement on Sunday, the Development Bank of Jamaica (DBJ) invited investors to bid for the financing, modernisation, operation and management of the five state owned sugar factories.

Prospective investors are also being asked to assume responsibility for related sugar cane lands and the Petrojam Ethanol Plant.

According to the DBJ, the assets are being offered en bloc or in separate packages.

However, the advertisement points out that "the Government of Jamaica's model is one of taking a wholistic approach to the divestment of the sugar cane assets".

It said preference will therefore be given to investors or groups of investors seeking to acquire all the assets.

The deadline for the submission of proposals is midnight March 13.