Another new registration round sugar factory Belgium

A new registration round is currently being prepared for the realization of a sugar beet factory in Seneffe in Wallonia. The CoBT cooperative does not yet have sufficient capital and volume to give the green light for the construction of the factory.

With a new share offering, the CoBT wants to increase its agricultural capital and beet supply contracts by 20%. For this purpose, the prospectus must first be approved by FSMA, the Financial Services and Markets Authority in Belgium.

So far, more than 1.250 beet growers have registered signed up and they will supply the sugar factory with more than 1,2 million tons of beets annually. This means that another 360.000 tons of beets per year are needed to meet the target of the financial plan of the CoBT comply. In addition, equity is not yet at the desired level. The counter now stands at €46 million, 80% of the total required capital.

Start construction
Once fundraising is completed, in autumn 2019, the CoBT will focus on bank loan negotiations. Sufficient supply and equity are a prerequisite for this. The intention is that construction of the factory in Seneffe will start in April 2020. The first beet deliveries are scheduled for September 2022.

Jeanette Pennings

Jeannet has her roots in the flower bulb sector and she grew up on an agricultural company in the northern part of North Holland. As a generalist she reports for Boerenbusiness across all sectors. She is also exploring the possibilities of sponsored advertising.

j.pennings@boerenbusiness. Nl

© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.