Investors interested in acquiring a stake in the local sugar industry have another 60 days or by the end of May to submit their bids for one of the five factories owned by the Sugar Company of Jamaica.

The Government had initially shortlisted five bidders, but had decided to extend the deadline for submissions, said Information Minister Donald Buchanan, yesterday.

"There have been 11 expressions of interest. I think five of those have basically been accepted in terms of their viability," said Mr. Buchanan at the weekly post-Cabinet press briefing at Jamaica House.

"However, Minister of Agriculture Roger Clarke indicated that in the best interest of maximizing whatever returns we will be receiving for the privatisation of the sugar industry that certain recent developments within the international sugar industry was of such that it would be in our best interest to have this extra 60 days for persons to submit," he explained.

The five sugar factories up for sale are Frome, Monymusk, Bernard Lodge, Long Pond and Duckenfield.