Shut Down Risk of South Pacific Fertilizer Company

The Sugar Cane Growers Council Board meeting held in Lautoka has today decided that it will close down the South Pacific Fertilizer Company in Lautoka, if they fail to secure assistance from the interim government.

During a press conference after the board meeting, council chairman Jain Kumar says the three shareholders of SPF which is the council, the growers fund and the FSC has already contributed one point seven million dollars in equity shares, with the sugar industry contributing 6.56 million dollars.

Kumar says this sort of contribution from the shareholders and from the industry cannot continue.

"We have also given our proposal to the government and we are looking forward and we working very closely with them and we are hopeful that they will come out with some sort of assistance to salvage this fertilizer company, the proposal we have sent to the government we don’t want to disclose that, in fact it is a very good proposal."

source: FBCL News