Abdul Khan still pushing his barrow

Ever since FSC was delivered to him Abdul Khan has been trying to get his bagasse power generation schemes up and running. Now he’s talked the regime into bank-rolling these schemes through the Fiji Development Bank. FSC is bankrupt. It was delisted from the South Pacific Stock Exchange. It owes nearly a $100 million to EXIM Bank of India and who knows how much to other banks and the FNPF. It has to borrow money to pay farmers a fair price for cane and now he’s going to borrow another $200 million. What will the interest bill be? By the time the scheme fails he’ll be out of the country with his share of the deal tucked away off-shore. Only in a corrupt tin-pot dictatorship could such things happen.

Radio Fiji Sep 19, 2013 FSC diversifying into co-generation and ethanol

One Response to “Abdul Khan still pushing his barrow”

  1. The Sugarman Says:

    Let me repeat. We are dealing with the most stupidest CEO ever in Abdul Khan. Bagasse power generation is impossible with the very low sugar cane production FSC is having now. Secondly, more bagasse is produced from high fibre cane. It seems this is Abdul’s wish; to have high fibre cane to make bagasse and less juice to produce sugar.

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