1996News

Reorganizing the State Sugar Council

The director of the Consejo Estatel del Azucar said his department is designing a reorganization and recovery plan for the assets of the consortium, including the sugar cane plantations, lands appropriate for tourism, and urban and mining developments for millions of pesos. He estimated the assets of the CEA are worth over RD$20,000 million. He stated that they have received offers from abroad, including Taiwan, but he said a board of lawyers has to create the legal framework for any new arrangements. He said they are studying the possibility of leasing out the mills and sugar cane fields.