TON - Tongaat Hulett Limited - Zimbabwe - Indigenous private sugar cane

TON - Tongaat Hulett Limited - Zimbabwe - Indigenous private sugar cane         
farmers                                                                         
Tongaat Hulett Limited                                                          
Registration number (1892/000610/06)                                            
Share code: TON                                                                 
ISIN ZAE000096541                                                               
Zimbabwe - Indigenous Private Sugar Cane Farmers                                
Earlier today, the Vice President of Zimbabwe, the Honourable Joice             
Mujuru, the Governor & Resident Minister of Masvingo Province, the              
Honourable Titus Maluleke, Tongaat Hulett CEO, Mr Peter Staude, Tongaat         
Hulett Zimbabwe Managing Director, Mr Sydney Mtsambiwa, BancABC CEO, Mr         
Hashmon Matemera and the EU Ambassador to Zimbabwe, Mr Aldo DELL`ARICCIA        
joined the sugar cane Farmer Associations` leadership and approximately         
1 000 members of the Chiredzi District community in the Lowveld of              
Zimbabwe on a tour of the Successful Rural Sugar Cane Farming Community         
Project (SusCo), underway in Zimbabwe.                                          
The goal of the SusCo Project is to facilitate private farmers, with the        
support and expertise of Tongaat Hulett, to increase their supply of            
sugar cane to 1,4 million tons (equivalent to 180 000 tons sugar) from          
the current 488 000 tons sugarcane (equivalent to 61 000 tons sugar).           
The project will re-establish the farmer sugar cane production area from        
its current 9 100 hectares to 15 880 hectares with an anticipated               
improvement in yields from 54 tons cane per hectare (tcph) to at least          
90 tcph. The direct beneficiaries of the project include some 872 sugar         
cane Farmers from the Hippo Valley, Triangle and Mkwasine Mill Group            
areas. As a result of the project, the number of people employed by the         
private Farmers will increase from approximately 3 600 employees,               
currently employed, to some 6 300 employees. The revenues arising from          
the growth in farmer sugar cane production will increase from US$29             
million to US$86 million, at current prices.                                    
BancABC in Zimbabwe is to provide funding through the establishment of a        
4-year revolving US$20 million financing scheme for the sugar cane              
farmers.                                                                        
Tongaat                                                                         
4 November 2011                                                                 
Sponsor: Investec Bank limited                                                  
Date: 04/11/2011 14:14:24 Supplied by www.sharenet.co.za                     
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