20000223

Nigerian firm to purchase sugar mill in Pakistan

ISLAMABAD: Jigawa State Investment Company of Nigeria, will purchase a sugar mill of 1,500 tcd capacity valuing $ 16 million from the Heavy Mechanical Complex (HMC) by availing financing from the Islamic Development Bank (IDB).

A delegation from Jigawa State of Nigeria which visited Pakistan in December last year, concluded a Preliminary Commercial Agreement with the HMC in this regard. The two parties agreed to utilise IDB's Export Financing Scheme.

The delegation also sought Pakistan's expertise in establishing sugar mills and development of sugar cane cultivation in Jigawa State. A technical team from the Heavy Mechanical Complex is expected to visit Nigeria in the near future on the invitation of Jigawa State for further negotiations.

Meanwhile, Sudan is interested for technical assistance of Pakistan to carry out erection and commissioning of Melut Sugar Mills in Khartoum, besides setting up of new sugar mills with the cooperation of Pakistan.

HMC has recently submitted technical and commercial proposals to the Ministry of Industry of Sudan for the establishment of sugar mills, besides supply of spares for existing sugar mills.

Sudanese market is considered to have tremendous potential for supply of Pakistani engineering goods, particularly manufactured by State Engineering companies. HMC and Pakistan Engineering Company (PECO) have already supplied equipment and spares for sugar mills and irrigation pumps, to Sudan valued at $ 2.7 million under the Pakistan State Credit of 10 million US dollars during fiscal 1993-94. PPI