The Ministry of Agriculture of the Republic of Suriname and UNIVEG announced today the completion of the privatisation process of SBBS (“Stichting Behoud Bananen Sector”).
UNIVEG will own 90%, while the Republic of Suriname will keep 10% of the shares.
The company will start operating under the name of FAI N.V. (Food and Agriculture Industries N.V.). It operates 2000 hectares of banana production and has a turnover of $65M. The privatisation process was organised under an International Tender Rule process where the EU acted as an observer.
Hendrik Setrowidjojo, Ministry of Agriculture of the Republic of Suriname says:
“The Republic of Suriname has as policy to sustain the banana sector for the long term and to safeguard the employment in this sector. We are pleased that through the international tender a long term partner such as UNIVEG was selected as an investor and we look forward to a fruitful relationship together. In selecting UNIVEG we found a good home for the future development and marketing of the Suriname banana.”
