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Oliver Kazunga, Senior Business Reporter
TONGAAT Hulett says its project to avail 3 362 hectares of land to estimated 200 indigenous sugarcane farmers at Hippo Valley and Triangle Estates at a cost of US$40 million is on track. The project, which is supported by the Government and a consortium of banks led by CABS and CBZ, was fully funded by commercial banks on a full cost recovery basis.
“Once the land has been planted, it will be handed over to Government for allocation to approximately 200 new farmer beneficiaries,” Tongaat Hulett said in a statement to African News Agency this week.
“In the 2014 pilot phase, 203 hectares was developed.
“Sugarcane yields on the developed land are impressive as they are averaging 130 tonnes per hectare.
This partnership project, which was agreed to between Tongaat Hulett and the Government in November last year, is expected to be completed by September next year.
During the implementation of the project an estimated 2 000 new jobs are being created directly and significant economic empowerment opportunities are being realised up and downstream, particularly to contractors of land preparation machinery, suppliers of key agricultural inputs, transport, housing, and other services.
In the past it has been noted that sugarcane farming has the potential to transform the lives of thousands of people in southern parts of Masvingo with the scope for irrigation poised to be expanded with the coming on board of the Tokwe-Mukosi Dam in Chivi. — @okazunga
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