Sunday Ehigiator
The Oyo Sugar and Derivatives Industries Limited (OSDL) manufacturing unit in Iseyin, Oyo State, has reached the commissioning and test-running stage following greater than N2.2 billion in monetary assist from the National Sugar Development Council (NSDC).
The 300-tonnes-per-day (TCD) greenfield sugar mill was developed below the Nigeria Sugar Master Plan (NSMP) and is among the few new-build sugar factories to emerge from the plant’s Backward Integration Programme.
The NSDC, in an announcement, congratulated the promoters and farming communities in Iseyin on the milestone, describing the event because the fruits of greater than a decade of economic, technical and institutional assist by the Council.
According to the Council, it funded the procurement of the manufacturing unit’s core 300 TCD sugar mill at roughly N1.64 billion.
As the undertaking progressed, the NSDC offered further funding for sugarcane growth and operational assist, bringing its complete monetary dedication to roughly N2.2 billion.
The Oyo State Government additionally contributed an estimated N850 million in fairness funding in the direction of the completion of excellent works.
The Council recommended the promoters and farming communities for remodeling the initiative from a cooperative farming enterprise into an operational sugar manufacturing unit.
Executive Secretary/Chief Executive Officer of the NSDC, Kamar Bakrin, stated the undertaking’s progress was the results of sustained dedication by the important thing stakeholders.
“That this factory now stands ready for commissioning is the result of sustained commitment; by the Council, by the Oyo State Government and by the promoters themselves,” Bakrin stated.
He stated the NSDC would proceed to assist the undertaking because it transitions to full-scale business manufacturing.
“Our work does not end here. The NSDC will remain engaged as OSDL moves into full-scale commercial production, and we expect this project to serve as proof that Nigeria’s sugar sector can be built on locally grown cane,” he stated.
The Council stated the event represented a major step within the implementation of the Nigeria Sugar Master Plan and the promotion of regionally produced sugarcane as the inspiration for Nigeria’s sugar business.
