News International Sugar Journal

Nicaragua – World Bank approves a loan for expansion of sugar factory [Registered]

The World Bank recently approved a loan of $15 million to Consorcio Naviero Nicaraguense SA. This is for the expansion of its smallest of four sugar mills in Nicaragua (Montelimar mill), with a milling capacity of 2,300 tons of sugar cane per day (“tcd”). The project involves increasing the factory’s sugar production from 33,000 tonnes to 67,000 tonnes and includes: i) the acquisition of 1628 ha of land to increase own planted acreage to 5262 ha, ii) investment in irrigation and other infrastructure in the field, iii) increasing milling capacity to 4100 tcd, iv) acquiring additional harvesting and transportation equipment…

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