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January Friday

Major Cuban sugar company to boost foreign investment

https://www.prensa-latina.cu/images/2020/noviembre/21/azcuba-declaraciones.jpg

HAVANA, Cuba, Nov 23 (ACN)The AZCUBA Sugar Group will launch new projects at the Cuba 2020 Business Forum to encourage foreign investment in the sugarcane industry, an executive from the company announced.

Engineer Lourdes Castellanos, director of AZCUBA's International Relations, Business, Foreign Investment and Institutional Communication Department, told Prensa Latina that the 2020-2021 portfolio of opportunities will be launched during the forum, with an increase in projects when compared to 2019.

These projects will open possibilities to modernize sugar mills and build new factories, which is in tune with the development program the sugar sector will implement until 2030, she said.

The 2020 Cuba Business Forum, which will be held virtually on December 8 and 9, 2020, will aim to create a space so that Cuban and foreign businesspeople can exchange views, explore markets and promote exports and opportunities to invest in the country.

Castellanos recalled that the Ron Vigia S.A. Joint Venture is the result of an alliance established last July between the Spanish company Island Rum Brands S.L. and Zerus S.A., holder of AZCUBA shares. It will produce and commercialize rum in the domestic and foreign markets.

Despite the impact of the Covid-19 pandemic, we are complying with the delivery schedule for this group that will start operations in the coming days in Ciego de Avila, a province with a great rum tradition, Castellanos said.

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