‘Moneymusk Can be Profitable!’ – Rickards

Chairman of the All Island Jamaica Cane Farmers Association, Allan Rickards, says the loss making Monymusk sugar factory in Clarendon can become profitable.

His comment comes amid reports that the Chinese based operator, Pan Caribbean Sugar Company, PCSC, is seeking to offload the factory to another operator.

In a media report today, the PCSC, has reportedly complained of losing USD$60-million at Monymusk.

Mr. Rickards says the government may have to take some action in the matter. He says the factory should produce what he calls ‘plantation-wide sugar ‘ and use its surplus electricity capacity. He says that would be an indicator that the island can produce all the sugar it consumes as well as offset electricity costs in Clarendon.

Mr. Rickards is blaming poor management by Pan Caribbean for the multi-million dollar losses at the Monymusk factory.

He’s urging the government not to close the facility.