TUE 08 FEB, 2022-theGBJournal- Ellah Lakes Plc today announced major investment collaboration agreement with Montserrado Investment Ltd, a project development and advisory firm focused on energy infrastructure in West Africa.
The agreement will see both firms coming together to build sugar facility, capable of processing 600 tons of cane per day. Ellah Lakes said this is in support of the National Sugar Master Plan (NSMP) championed by the National Sugar Development Council (NSDC), which is geared towards “Accelerating the development and growth of the local sugar industry to achieve national self-sufficiency.”
Speaking on the development, the Chief Executive Officer Ellah Lakes, Chuka Mordi said: “This is a significant landmark for the Company in fulfilling our strategic objective of diversifying our portfolio and production base, and we are very excited to be working with Montserrado.”
The Sugar Processing facility is expected to run on 100% renewable power, and the period from construction to completion and commissioning, is expected to be 24months.
According to Mordi, ‘’we are very pleased at this collaboration and look forward to a mutually beneficial, valuable and fruitful venture.”
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