SUBSIDIARY NAME
SUCON
COUNTRY
MALAWI
SECTOR/ INDUSTRY
INFRASTRUCTURE / MANUFACTURING
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
April 26, 2022
ACQUISITION VALUATION
101 MILLION USD
TOTAL ASSET VALUATION
1.01 BILLION USD
INFRASRTUCTURE/MANFACTURING
SUCON: IIB-DG acquire SUCCON 1000 TCD ON APR 26,2022 intends to establish and setup an integrated sugar production plant in NIKHOTAKOTA MALAWI. The intended capacity of plant is 1,000 Tons of crushed cane per day. SUCON aims to capitalize on this larger and growing market production gap of sugar and ethanol to setup a 1000 TCD sugar and ethanol production plant.
An environmental and social management plan (ESMP) and Environmental and social impact assessment (ESIA) have been conducted for the project and identified that the project construction & installation and operation management phases will significantly positively impact the local economy.