Montellano sugar cane mill to be reopenedposted on: Feb 16 2012 10:49 by The Reporter. Viewed 843 times.
The defunct sugar mill in Montellano will soon be operational again, says the former Central Bank Governor and representative in the Dominican Republic of the Quisqueya Biofuel and Sugar Consortium (CABIOQUI), Luis Toral Cordova.
The announcement on Tuesday, reveals that CABIOQUI led by its president, Eduard B. Smith, Jr have leased the mill from the assets of the liquidated Banco Intercontinental (BANINTER), with help from Banco Central and intend to begin operating the plant within the next 1- to 12 months.
CABIOQUI say they are investing US$40 million into the venture and will directly employ around 1700 local people which will indirectly provide employment for around 6000 in total.
The company say they aim to develop social programs for the benefit of residents, including education, health, housing, sports, through school improvement programs, medical centers and housing, among others.
The new tenants of the Montellano sugar mill are U.S. investors, led by the Smith family from Chicago, who have been involved in private banking, finance and manufacturing for more than one hundred years.
Cordova says the mill will use local labor and Dominican management.
They recognize that in the Dominican Republic and especially in Puerto Plata there is a large sugar cane culture and tradition at all levels," said Cordova.
"One goal is that while the repairs completed, we will work in parallel in the cane fields to have the first harvest in the shortest time possible."
Cordova said this mill will be transformed, along wit hthe help of a company specializing in the sugar and alcohol sector in Brazil, as well as technical and professional Dominicans, with the goal of making it a world-class industry standard.
He added that in CABIOQUI’s philosophy of labor, workers are treated with a lot of respect, always ensuring that they can perform their duties in a safe environment and allow them to grow in all respects as a family business.