With an undetermined investment amount, Nicaragua's Grupo Pellas has taken over the Chabil Utza Mill at Alta Verapaz and proposed its revival.
Miguel Maldonado, the general manager of Chabil Utzaj, told Siglo21.com.gt that the new administration will be composed of Guatemalans who have extensive experience in the sugar industry.
The project to put a sugar mill into operation in the Polochic Valley, has never worked since its installation in 2005, when the Widdman family, the previous owners, moved the Guadalupe Mill from Escuintla to Alta Verapaz, with funding of $ 20 million awarded by the BCIE.