Global Industries invests $20 million in soya plant

GLOBAL Industries Limited (GIL) has invested US$20 million in a soya bean processing plant to double edible oil production capacity to 100, 000 tonnes a day.
The latest financing into the state-of-the-art soya bean processing machinery is an addition to the US$14 million investment made in 2016.
GIL chief executive officer Malolan Sampath said the investment, which signifies the firm’s growing path, is exploring avenues of adding value to the economy.
“In December last year, we invested an additional US$20 million into the soya bean crushing plant to increase production capacity to 100,000 tonnes per day from 50,000 tonnes,” Mr Sampath said when Copperbelt Permanent Secretary Bright Nundwe toured the newly-installed facility.
He said small-scale farmers’ supply of the soya beans is 350,000 tonnes a year but GIL is targeting more farmers countrywide to buy the produce to meet factory demands.
Mr Sampath said the GIL has communicated with the small-scale farmers’ body on the supply needs of the soya beans and have set competitive prices.
“We have communicated to the farmers, they have to focus on…

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