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Sucro Limited ( (TSE:SUGR) ) has provided an update.
Sucro Limited and Santander Sugar Limited have announced a joint venture to form Caribbean Sugar Refinery Limited, aiming to boost regional cane sugar production in the Caribbean. The initiative involves a $20 million investment to establish a sugar refinery in Belize, targeting 75% of CARICOM’s refined sugar needs and exploring export opportunities. The project, supported by the Government of Belize, is expected to enhance economic development, create employment, and strengthen regional food security, with a commitment to sustainability and environmental stewardship.
More about Sucro Limited
Sucro Limited is a growth-oriented sugar refiner and distributor primarily serving North America and Caribbean markets. The company has been a leader in building new sugar refineries in underserved markets, working closely with local governments on regional economic development and job creation. Since its inception in 2014, Sucro has achieved growth through process innovation and supply chain re-engineering. Santander Sugar Limited is a leading Belizean sugar mill and exporter of raw sugar, brown sugar, and molasses, committed to sustainability and supporting regional agricultural development.
Average Trading Volume: 713
Technical Sentiment Signal: Buy
Learn more about SUGR stock on TipRanks’ Stock Analysis page.