Honduran Financial Group Plans to Acquire Belize Sugar Industries

2011-08-02

The Belize Sugar Industries (BSI), which is in a financial crisis, seems to having a change for the better after Banco Atlantida of Honduras announces that it is preparing to invest 90 million U. S. dollars. According to Banco Atlantida’s plan, that in addition to making a 30 million U. S. dollar loan repayment, part of the remaining fund will be used to make loans to sugarcane farmers for enhancing production, and the rest will be used to improve the facilities of the sugar refineries, and to increase refining capacity for sugar. In order to achieve the most efficient power generating capability for a cogeneration power plant, the sugar refining capacity for each quarter must reach 1.5 million tons. However, as the current sugar refining capacity is only 0.84 million tons, compared to the best condition of 1.5 million tons, there is significant room for improvement.