The Fiji Sugar Corporation has again requested that the government which is the majority shareholder of FSC to consider and implement the conversion of government loans currently totaling $173.8 million to shares in FSC and to propose the acquisition of minority shares.
This was highlighted by Board Chairman Vishnu Mohan at the FSC Annual General Meeting while he delivered their Annual Report for the year ended 31st May, 2018.
Mohan says he had made this request at the previous Annual General Meeting as well.
He says FSC invested $30 million during the year on capital and maintenance works for its three mills.
Mohan says tropical cyclones Josie and Keni did the most damage to the Rarawai Mill where it was submerged under water and also caused significant damage to 696 cane farms.
He says the Lautoka Mill and the Rarawai Mill were both refurbished and each mill now has a 2,000 kVA diesel generator to improve plant stability and plant protection.
Mohan says in March this year Prime Minister Voreqe Bainimarama launched FSC's new tractor and implements fleet and these 30 new tractors and implements have since been deployed across the cane belt and hired out to growers at cost‑effective pricing.
He says in June they launched 20 new water tankers to assist with the supplementary irrigational needs of growers.
FSC also replaced 62 vehicles for the Agricultural Services division.
Mohan says their previous almost full dependence on the EU market has now changed and this year they will be shipping Fiji sugar to different markets including China and the first shipment was last month.
