By MICHAEL EBOH

BUA Sugar Refinery Company has announced plans to build a sugar refinery in Kogi State, to boost sugar production in Nigeria.

According to a statement by the company, the Kogi State Governor, Mr. Idris Wada, had allocated land to the company for the establishment of the sugar refinery.

Mr. Kabiru Rabiu, Group Executive Director, BUA Sugar Refinery, said it had earlier requested a piece of land from the Governor for the establishment of a sugar industry in Bassa Local Government Area in the State.

The governor confirmed the award of the land to the company when officials of the company paid him a courtesy visit in his office in Lokoja.

Wada said the land was allocated for the establishment of the Sugar factory because agriculture is one of the state’s priorities.

He maintained that the state is blessed with abundant resources, calling on investors to take the advantage of the enabling environment provided by his administration to develop the state.

BUA Sugar currently has an ultra modern 2,000 metric tonne Sugar refinery Plant at Tin Can Port Industrial Estate, Lagos and it also acquired Lafiagi Sugar Plant in Kwara State, a couple of months ago.

The company said that apart from manufacturing and local distribution of sugar, it is set to benefit from the international sugar market.

The company said its existing refinery was conceived as an ultra modern, automated plant with state of the art equipment, adding that the technology deployed is unique and from Brazil, widely known as having the best technology in sugar production and refinery.

It further stated that the refinery is structured to generate its own power during the process of converting molasses to sugar, noting, however, that provision has also been made for gas supply from a gas company to fire its turbines.

The company had noted that the refinery, which is 100 per cent Nigerian owned and 100 per cent equity financed, might in the near future consider increasing its ownership structure, with the listing of its shares on the Nigerian Stock Exchange, NSE.

According to the company, the plan to list the shares is borne out of its decision to extend ownership of the company to a vast majority of Nigerians, adding that the listing processes would commence after holding talks with the relevant capital market authorities.