SC Foods officially purchases shares in Fiji Dairy Ltd

By fijivillage.com

30/08/2012

The new owner of Fiji Dairy Ltd, Southern Cross Foods Ltd has started work in trying to develop the dairy industry.

As part of the conditions set out when SC Foods purchased Fiji Dairy Limited was work on a 350-acre dairy farm in Waidina involving a minimum of 150 cows by the end of December this year, install two chilling centres in the Western Division and upgrade and modernise the plant and machinery at the existing factory.

SC Foods CEO Vishwa Sharma said they are well progressed with the setting up of chilling centers in the Western Division and have almost finished with the payment.

Sharma said in terms of setting up the dairy farm they have approval from the Ministry of Health for the check offs of the herds and the setup of the milking sheds.

As part of the Sale and Purchase Agreement, Government has obtained a guarantee of $2 million from SC Foods and its directors in their personal right, which will be recovered by Government in the event the conditions are not met.

This morning SC Foods presented a cheque of $10 million to the Prime Minister Commodore Voreqe Bainimarama to officially purchase 80% of the shares of Fiji Dairy Ltd.

Story by: Filipe Naikaso

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