cameroun

 :A contract was yesterday signed between the State and the sugar company giving out 11,980 hectares of land on lease to the latter.

The localities of Mbandjock, Nkoteng and Lembe Yezoum in the Upper Sanaga Division will soon bequeath part of their land to the Cameroon Sugar Company (SOSUCAM). A contract was yesterday signed in Yaounde between the State, represented by the Minister of State Property and Land Tenure, Louis Marie Abogo Nkono and SOSUCAM, represented on its part by its President Director General, Louis Yinda.

The contract concretises the Presidential Decree of 11 March, 2006, authorizing SOSUCAM to acquire more land on lease on which to expand its sugar cane plantations. According to the terms of the contract, 11,980 hectares of land will be given out to the company, precisely in Mbandjock, Nkoteng, and Lembe Yezoum, located at the Mbandjock and Nkoteng Sub-divisions in Upper Sanaga Division.

The contract will swell State coffers with annual estate real tax of CFA 77,354,860 renewable after every five years. The money will be shared as follows: 40 per cent to the State (CFA 30,941,944) to be paid in the State treasury, 40 per cent to the Mbandjock, Nkoteng and Lembe Yezoum councils and 20 per cent to the populations of the village concerned (Ndo, Biboto, Simbane, Messassa, Ebomentende, Mvan, Ouassa and Elap.

A cheque was immediately signed and handed to the treasurer pay master of the Upper Sanaga Division. Minister Abogo Nkono instructed him to pay the money in the public treasury so that it can be immediately paid to the population concerned. The Minister of State Property and Land Tenure, expressed government's awareness of the importance of SOSUCAM. It is for this reason that it is creating conducive conditions for the development of its activities.

The President Director General, Louis Yinda, on his part, said the contract will enable them to plan for the future with optimism. The present acquision, he said will bring up SOSUCAM plantations from 20,000 to over 30,000 hectares within the next six years. This, he said will necessitate additional investment of CFA 30 Billion and recruitment of more employers. Mr Yinda said, the company envisages a production capacity of about 200,000 tons by 2010.