Ellah Lakes Plc has announced a collaboration agreement with Montserrado Investment Ltd to build a 600 Tons of Cane per Day Sugar processing plant.
This is in support of the National Sugar Master Plan (NSMP) championed by the National Sugar Development Council (NSDC), which is geared towards “Accelerating the development and growth of the local sugar industry to achieve national self-sufficiency”.
The Sugar Processing facility is expected to run on 100% renewable power, and the period from construction to completion and commissioning, is expected to be 24months.
Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in fulfilling our strategic objective of diversifying our portfolio and production base, & we are very excited to be working with Montserrado. We are very pleased at this collaboration and look forward to a mutually beneficial, valuable and fruitful venture.”
Ellah Lakes Plc is a Nigerian agribusiness that is currently specializing in Oil Palm & Cassava cultivation in Edo & Delta States. It was listed on the Nigerian Stock Exchange in 1993. Ellah Lakes Plc. has brought empowerment to the communities in which it operates and is diversifying across Oil Palm and Cassava value chains.