Sunday, September 21, 2014

Cuba focuses on sugar industry in new investment program

Cuba focuses on sugar industry in new investment program
Sep 21,2014

HAVANA, Sept. 20 (Xinhua)-- An investment program has been planned to
boost the production of sugar and its derivatives in Cuba, said one of
the country's business leaders.

Under the program, distilleries would be modernized, new plants of
ensiled feed, honey, urea and cane bagasse would be set up, said
investment director of the Business Group Azcuba Pedro Perez.

Modern techniques of water supply, including the drip irrigation system,
would also be introduced.

Perez stressed the priority of the cane production, a major source to
obtain sugar, animal feed, energy and other derivatives.

He said that sugar production in Cuba was expected to grow 15 percent
during the upcoming harvest.

According to the plan, the 2014-2015 harvest will start from the third
week of November.

Azcuba expected a yield of approximately 44 tons of cane per hectare in
the coming harvest.

Cuba increased sugar production by only 3 percent during the 2013-2014
harvest amid bad weather. It had planned an increase of 18 percent.

Sugar production, which for over a century remained one of the key
industries of the island, suffered from a severe disinvestment,
representing now only about 5 percent of the export income of the
Caribbean nation.

Most of the 59 sugar refineries in Cuba were built before 1959,
therefore a heavy investment is needed for rehabilitation.

Source: Cuba focuses on sugar industry in new investment program |
Shanghai Daily -

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