DSR gives nod for formal takeover of Savannah Sugar Company

Nigeria: Dangote Sugar Refinery Plc (DSR) aims to increase its market share, therefore shareholders of the company have given the nod for the formal takeover of Savannah Sugar Company Limited.

According to the media report, the Chairman of the company, Alhaji Aliko Dangote, said the DSR, a top tier player in the industry with an installed capacity to produce 1.44 million metric tones per annum, will be leveraging on the Savannah Sugar’s sugarcane production capacity to enhance its production capacity.

“Cane crushing capacity of Savannah mill is 50,000 tonne and it owns a 32,000 hectares land. Once a merger is completed, we will take steps to increase its capacity and take up cultivation in the available land. The merger will provide an opportunity for the stakeholders, shareholders, employees and others to increase production and earn more profit”, he further added.

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