{"id":10787,"date":"2012-05-28T22:13:33","date_gmt":"2012-05-28T20:13:33","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/update-2-illovo-pulls-out-of-mali-sugar-project\/"},"modified":"2012-05-28T22:13:33","modified_gmt":"2012-05-28T20:13:33","slug":"update-2-illovo-pulls-out-of-mali-sugar-project","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-illovo-pulls-out-of-mali-sugar-project\/","title":{"rendered":"UPDATE 2-Illovo pulls out of Mali sugar project"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Year diluted headline EPS 132.5 cents, vs 112.1 cents<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Shares up 0.6 percent<\/p>\n<p> (Recasts with MD comment)<\/p>\n<p><span><\/span><\/p>\n<p>By Olivia Kumwenda<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, May 28 (Reuters) &#8211; South African group Illovo<br \/>\nSugar has pulled out of a 2.6 billion rand ($310<br \/>\nmillion) sugar project in Mali, largely due to political risk<br \/>\nand also funding difficulties, and will focus on growth<br \/>\nopportunities elsewhere in Africa.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;On the African landscape, west Africa has &#8230; increased in<br \/>\nrisk profile and therefore other regions, such as east Africa<br \/>\nand central Africa, would come to the fore once again,&#8221; managing<br \/>\ndirector Graham Clark told Reuters on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are focusing across the region. Those would be areas<br \/>\nwhere you have the best fundamentals to grow cane and attractive<br \/>\nmarkets,&#8221; he said.<\/p>\n<p><span><\/span><\/p>\n<p>Mali&#8217;s Markala Sugar project, a proposed private-public<br \/>\npartnership between the government and Illovo, was expected to<br \/>\nproduce 1.5 million tonnes of cane per year.<\/p>\n<p><span><\/span><\/p>\n<p>Illovo ended its interest in the project after the<br \/>\ngovernment failed to finalise funding and complete undertakings<br \/>\nwith regard to infrastructure development, Clark said, adding<br \/>\nsecurity risk was also a concern after a coup.<\/p>\n<p><span><\/span><\/p>\n<p>Illovo, a unit of Associated British Foods and<br \/>\nAfrica&#8217;s biggest sugar producer, has operations in South Africa,<br \/>\nMalawi, Mozambique, Swaziland, Tanzania and Zambia.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Year diluted headline EPS 132.5 cents, vs 112.1 cents * Shares up 0.6 percent (Recasts with MD comment) By Olivia Kumwenda JOHANNESBURG, May 28 (Reuters) &#8211; South African group Illovo Sugar has pulled out of a 2.6 billion rand ($310 million) sugar project in Mali, largely due to political risk and also funding difficulties, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10787","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10787"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}