According to Minister for Sugar Charan Jeath Singh, plans are underway to build a new sugar mill in Rakiraki, Fiji, at a cost of about $100 million, reported Fiji Times.
The decision to build a new mill comes as the Fiji Sugar Corporation (FSC) is struggling to reduce its debt, which currently stands at $485.9 million. FSC chairman Pradeep Lal said that the corporation plans to reduce its debt to $285 million in the coming years.
The number of active sugarcane growers in Fiji has also declined by more than 47% over the past 25 years, from 20,524 to 10,872. Lal said that the FSC is working to address this issue by providing incentives to farmers and investing in new technologies.
Lal said that the corporation is working to diversify its product offerings and expand into new markets to increase revenue.