The Honduran Banco Atlantida proposal is off the table; there are however, reports that negotiations for the acquisition of Belize Sugar Industries Limited by a U.S. based company are currently underway and an offer to purchase majority interest in the financially embattled company has been submitted to B.S.I. American Sugar Refining, the world’s largest multinational entity in sugar refining, is proposing to invest forty million Belize dollars in fixed asset costs over a three-year period during which it is expected that the operations at B.S.I.’s Tower Hill Factory should improve significantly. A.S.R., the conglomerate to which Tate & Lyle belongs, has also proposed an increase in the cost of raw sugar on the basis that seventy thousand metric tons are purchased from B.S.I. annually. The price per ton of unrefined sugar should see an upturn from three hundred and thirty-five to four hundred and twenty-five Euros for a total sum of sixteen point eight million Belize dollars in annual revenue. Of that total it is believed that cane farmers will receive an additional ten point eight million dollars while the factory retains the balance. News Five also understands that the deadline for the deal to be completed has been set for June thirtieth. B.S.I. has not disclosed the proposal, and the Belize Sugar Cane Farmers Association says it doesn’t have the details.

Channel 5