RPT-BRIEF-Illovo Sugar sees 2009 sugar production at 1.98 mln T

Tue Jul 14, 2009 8:55am EDT
 
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(Refiles to correct 3rd bullet point to say Mali, not Malawi, commercial planting)

JOHANNESBURG, July 14 (Reuters) - Illovo Sugar Ltd (ILVJ.J):

* Says zambia sugar rights issue is progressing as planned following approval of the necessary resolutions at the zambia sugar plc annual general meeting at the end of June

* Says the share issue will be completed by the end of August

* Says Mali commercial planting of sugar cane is expected to commence in the first quarter of 2010, with sugar production anticipated to start in December 2011

* Says the malian operation will ultimately produce 195 000 tons of sugar and 15 000 kilolitres of ethanol for fuel blending

* Says plans to raise fresh capital by way of a rights issue to finance the group's expansion plans

* Says group estate cane production is expected to be about 1,5 million tons above last year at around 6,5 million tons

* Says for the group as a whole, sugar production is expected to be around 1,98 million tons, which is 275 000 tons above last year

* Says downstream plant at sezela continues to perform well with production forecast to be similar to that of last year

 

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