Biography Of Said Salim Bakhresa (Age , Wife , Net Worth) - The Bakhresa Group, owned by Tanzanian billionaire Said Salim Bakhresa, has resumed operations at its Bagamoyo sugar mill as part of a deliberate attempt to bridge market supply shortfalls.
According to The Citizen, Bagamoyo Sugar Limited, a subsidiary of Bakhresa Firm, commenced commercial production on Wednesday, many weeks after the plant began trial production of sugar and a year after the group teased stakeholders that production would begin in June 2022.
The Bakhresa-led conglomerate spent $110 million on the first part of the three-phase project, with the business aiming to spend up to $300 million to finish all three stages.
Bagamoyo Sugar Limited, according to the management, is crucial for employment generation and will have a multiplier effect on farmers in the future. The initial phase of the facility will create between 800 and 1,000 direct employment.
According to Hussein Sufian, the corporate relations director of Bakhresa Group, the sugar plant’s installed capacity, which is now 30,000 to 40,000 tonnes per year, is projected to expand to 100,000 tonnes once all three stages of the project are completed.
“Our facility is scalable, and the first phase of the factory will produce roughly 800 direct employment; depending on sugarcane availability, it may go up to an annual production capacity of 100,000 tonnes after all three stages are completed,” he added.
Sufian also stated that the factory is presently harvesting 1,200 hectares of sugarcane grown during the first phase in order to have additional raw materials to fuel plant output.
Bakhresa, a prominent Tanazanian businessman, is one of Africa’s wealthiest persons, with a fortune worth more over $600 million in 2015.
The Bakhresa Group, a huge conglomerate with businesses in food processing, energy, transportation, and port services, is the source of much of Bakhresa’s fortune.
Four of his sons work with the organization as executive directors.
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