/ 5 August 1999

IDC BACKS BEET PROJECT

STATE owned Industrial Development Corporation reaffirmed its backing for a major sugar beet project on Tuesday, but said that its support will depend on finding a major technical partner. The R500-million project to establish a sugar beet mill and farms in the underdeveloped Eastern Cape province has been stalled by the withdrawal of German technical partner Nordzucher AG of Braunschweig in May. Now the IDC has put its financial backing for the greenfield project on hold while a major new technical partner is sought.