The NSW Sugar Industry been successful in getting approval for a $12.6 million grant for its milling operations under the Anchor Grant scheme.
Senator Murray Watt, Federal Minister for Agriculture, Fisheries and Forestry along with NSW Deputy Premier Paul Toole visited the Broadwater Sugar Mill late last week to make the announcement.
Sunshine Sugar CEO Mr Chris Connors expressed his heartfelt thanks to both the State and Federal Government representatives for their support and said, “This is a significant contribution, not only for Sunshine Sugar, but for our employees, our growers and all of the local businesses that rely on the NSW sugar industry.”
Mr Connors also acknowledged his workforce for their efforts in putting a detailed submission together and the support the relevant government agencies provided throughout the process.
Over the six months since the catastrophic flooding across the Northern Rivers, Sunshine Sugar has been working non-stop to get the business back in operations and has maintained a full workforce, but it has been a huge expense.
“The Anchor grants are going to be critical to our ongoing viability and cash flow”, said Mr Connors.
The actual costs incurred by Sunshine Sugar in the ongoing recovery effort is expected to be close to $44m with insurance covering $30m. The financial assistance provided under the Anchor Grant scheme will come close to mitigating the overall costs involved.
[13 September 2022]