Sugar industry

Fuatilia

Tongaat Hulett avoids liquidation with R200m IDC funding

A last-minute R200-million funding deal from the Industrial Development Corporation has prevented the liquidation of sugar giant Tongaat Hulett, allowing its mills in KwaZulu-Natal to open for the cane crushing season. This provides relief to more than 18,000 growers who depend on the company's facilities. The Durban high court adjourned the winding-up application until 17 June.

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