Home » Uncategorized » Potential for another sugar loan fiasco… Who is liable for the $180m loan? Will the co generators work on Fijis bagasse to the standard required. Why not sell the electricity to FEA to replace expensive diesel? Saving money for a private gold company is now one of the aims of FSC?

Potential for another sugar loan fiasco… Who is liable for the $180m loan? Will the co generators work on Fijis bagasse to the standard required. Why not sell the electricity to FEA to replace expensive diesel? Saving money for a private gold company is now one of the aims of FSC?

FSC to sell electrcity to Vatukoula gold mine

08:14 Today

The Fiji Sugar Corporation is partnering with the Vatukoula Goldmine Limited for a co-generation project that would see massive savings for VGL’s electricity costs.

FSC Executive Chair Abdul Khan says FSC will sell electricity to VGL at a much lower price, which in turn, will reduce the total costs of gold production for the company.

The main reason that Vatukoula is coming in with us, is their cost of electricity is roughly around fifty cents a unit. We will be selling it to them at twenty three cents a unit which reduces the electricity cost by fifty per cent, and their overall cost of production of gold by twenty five per cent because fifty percent of their cost is actually electricity.

The $180m project will be funded by London investors through arrangements with VGL.

Khan says the project will provide the FSC up to $45m in revenue per year.

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7 thoughts on “Potential for another sugar loan fiasco… Who is liable for the $180m loan? Will the co generators work on Fijis bagasse to the standard required. Why not sell the electricity to FEA to replace expensive diesel? Saving money for a private gold company is now one of the aims of FSC?

  1. Fiji is drowning under this incompetent and corrupt dictatorship. The window of opportunity is quickly closing for the once proud Fiji Military to cleanse the nation of this inept and destructive illegal junta led by khaiyum and his ineffectual thug hand puppet. Do the military not want a future for their children?

  2. FSC is bankrupot and sugar industry is dead caused by the thug and no school dictator-one of his major reforms?

    Now thw junta gonna plant the cows and rice in sugar cane land-what a joke-

  3. Simply do not believe this – Fiji “Sugar” Corporation is to become a cheap electricity provider for an offshore mining company & Abdul Khan & the Board
    having done away with the services of M Chaudhry will oversee its planning & implementation…Is it us or is it them?

  4. If it works good for FSC. It can repay its loans and be more viable commercially. However it is first and foremost a sugar producing company so it must not lose sight of that. Where I smell a rat is that Abdul Khan, the FSC chair owns a pretty ramshackle electrical contracting compant called AJYNK Electrical. Can’t see him not profiteering from this just like Robert Khan of Radio Tarana NZ who pocketed millions from the FBC radio and tv station upgrades. As for money from London financiers. Another pipe dream that will never happen. I can see that FNPF loan cum handout happening as I write this. No one will invest their own money in this tin pot dictatorship.

  5. @ Sugar Daddy. Baggase which is left over from the sugar crush is combustible and can you be used to fire up boilers and the like. Not sure about it’s potential in a large industrial power generating application such as Vatukoula Gold Mine. Abdul Khan himself is vague on the exact process and timelines. Another factor to consider is that FCS needs the baggase for its own use so the cane crush needs to increase dramatically in order to support both industries. Quite frankly this is another yarn from Abdul Khan along with sattelite juicing stations (remember that one) as well as ceasing the rail transport system and quality cane payment system. This guy has no idea what is going on and is there just to keep Vaniqi company.

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