Belize Sugar Factory

Belmopan - 06 November, 2007 - Merconsult S.A. (Panama) and Destillint SA de CV (Mexico) have joined forces to produce ethanol in Belize at the Libertad Sugar Factory. Payment for the facility wasmade to the Government of Belize on Thursday 1st November as a result of the approval by the National Assembly earlier this year to sell this facility. The total investment in this project by bothcompanies is estimated at more than US$25 million. “Our new Belizean company, Destill Belize Ethanol, will create many good jobs, and will act as another spring board for the local economy. The number ofdirect and indirect jobs to be created will have a significant and immediate impact on the economy of the north.” said Dr. Alfredo Oranges, Merconsult’s representative.

Dr. Oranges added:“Destillint SA de CV is the largest producer of ethanol in Mexico. The expertise and knowledge of international markets of its principals, Messrs. Eliel Garcia and Arturo Razo, will allow us to produce and exportethanol to satisfy a growing global demand.”

It is expected that the factory and distillery will become operational within one year during which the design and installation of the new distillerywill be undertaken as well as the refurbishment of the existing facility. Works will commence immediately to carry out repairs to the factory as well as cleaning and preparing the land to plant sugarcane.

The investors will also be engaging the sugar cane associations in discussions to plan for the future involvement of the cane farmers in the production of additional sugar cane for localethanol production.

“We will bring to Belize new sugar cane varieties, along with new technologies that will make farming more efficient and productive. We will work hand in hand with local cane farmersto better their lives and living conditions, while developing a sustainable industry for the company and the country of Belize.”

Minister of Agriculture Vildo Marin expressed his satisfaction...