Ellah Lakes Partners Advisory Firm To Build 600TCD Sugar Refinery

Ellah Lakes Partners Advisory Firm To Build 600TCD Sugar Refinery

The country’s journey to self-sufficiency in sugar production may have been quickened, following an announcement on Monday through the Nigerian Exchange Limited by the board of Ellah Lakes Plc plans to further broaden its play in the nation’s agricultural space through a partnership agreement with Montserrado Investment Limited, a project development and advisory firm.

The company’s statement, signed by Geraldine Ofoluwa, the Communications Officer, said the new thinking “is in support of the National Sugar Master Plan (NSMP) championed by the National Sugar Development Council (NSDC), which is geared towards “Accelerating the development and growth of the local sugar industry to achieve national self-sufficiency”.

The sugar processing facility, the statement explained, “is expected to run on 100% renewable power, and the period from construction to completion and commissioning, is expected to be 24 months.”

Commenting on the development, the Chief Executive Officer, Ellah Lakes, Chuka Mordi described it as “a significant landmark for the company in fulfilling our strategic objective of diversifying our portfolio and production base, and we are 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 stressed further.

The statement did not however say where the facility is to be constructed, or the value of the investment. 

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