John Myers Jr., Farmers Weekly Coordinator

The entrance to the Long Pond sugar factory in Trelawny. Long Pond is one of the five factories being divested by the Government. - File

AT LEAST five more foreign companies have expressed interest in acquiring the assets of the state-run Sugar Company of Jamaica (SCJ), according to Agriculture and Lands Minister, Roger Clarke.

"We have been getting quite a few more enquiries. So far, probably about five more out of Brazil again and the States (U.S.) mostly," Minister Clarke told Farmers Weekly on Tuesday. He said "some seem quite attractive and some seem to have quite a bit of resources and the others are already in the business so it is an interesting mix."

Bidding in march

CLARKE

Mr. Clarke said they were now contemplating how to facilitate the new interests now that the pre-qualification period has ended. Five companies, including J. Wray andNephew - operators of the privately owned Appleton sugar estate - Coimex out of Brazil and Damphur from India have been shortlisted to bid for the SCJ's assets.

The Agriculture and Lands Minister said the Government will begin inviting bids in March.

In the meantime, he said the current sugar crop was outperforming last year's. Mr. Clarke noted that the crop was behind in the few weeks after the start, but the factories were now performing much better.

The SCJ, which includes the Monymusk, Frome, Bernard Lodge, St. Thomas and Long Pond sugar factories, has been plagued by inefficiencies and losses over the years, racking up more than $14 billion in debt, despite several interventions by Government. Mr. Clarke said the debt is to be taken over by the Ministry of Finance ahead of the pending divestment of assets. He said the SCJ was given some $200 million to continue with operations at the five factories until the divestment is finalised.