Prime Minister Voreqe Bainimarama says the Fiji Sugar Corporation is in the process of establishing an additional eight joint ventures with the landowning units both in the Western and the Northern Division which will have the potential to produce nearly 40,000 tonnes of cane.
He says this can potentially generate over $3 million in revenue at the current price of $85 per tonne.
The Prime Minister also says they are building capacity among the mataqali to transform these joint ventures into fully owned self-sufficient business ventures.
He says this will enable landowners to make more profit and make the sugar industry more competitive in the increasingly uncertain global market.
Nine joint ventures are currently operational which is covering around 508 hectares of land which includes four in the Western division and five in the Northern Division
Bainimarama says that while some joint ventures have already recorded profits, many of the joint ventures remain in the early stages of their production time line. However all ventures are on track to full profitability in the long run.
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