Honduras: Tender for Construction of Sugar Mills

The government has announced that the tender for $300 million being prepared for the coming months will be awarded in October and November and the works will be carried out using public-private partnerships.  

Tuesday, May 27, 2014

Investors in the United States, Mexico and China have expressed interest in participating in the bidding process for the construction of two mills located in Olancho, with which the government will seek to increase exports of sugar. The government announced plans to select companies between October and November and begin construction in 2015.

"These buildings will be constructed under using public private community investment model" said Alden Rivera, Minister of Economic Development. This model implies that each of the mills will be created with 70% foreign equity, 20% given by the government ... and a 10 % stake under the category of public subscription ... this means that any Honduran citizen who wants to become a shareholder in the sugar mills may do so under "the terms of a $10,000 floor and a ceiling of $100 thousand," according to Rivera.

"Meanwhile, it has been revealed that there are foreign companies, including from Mainland China, interested in buying the product to be produced in the new mills. "We also have the opportunity to sell it in Canada, a country with which we will soon have a free trade agreement. There is also a window for exporting to the European market and Taiwan ... There is also the intention to produce ethanol, electricity and other products for domestic consumption using the new mills."

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According to data from CentralAmericaData, the average price per kilo of sugar exported by countries in the region fell 38% between May 2012 and June 2017, from $1.13 to $0.70.

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This shipment to China represents more than 10% of the production of exportable sugar in the country, as currently 60% of domestic production is exported and 40% is for local consumption, which has not changed its demand in recent years .

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Nicaraguan investors are carrying out the water, soil and feasibility studies for building sugar mills in Tisma and San Francisco Libre.  

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Guatemala: Sustained Growth in Sugar

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In the last twenty years the sugar industry has been growing at an annual rate of 11%, contributing to 3% of gross domestic product.

According to statistics from the Bank of Guatemala, in 2011 sugar exports accounted for 6.2% of total exports from the country.

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