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CIEL Agro & Property owns 20.96% of Alteo Limited , listed on the Official Market of the Stock Exchange of Mauritius (SEM) since July 2012. With an annual turnover of Rs 8.93 billion (approx. USD 260m), Alteo is a leading regional player in the sugar, energy and property sectors in Mauritius, Tanzania and Kenya. As the largest sugar producer in Mauritius, and with a strong presence in Africa, Alteo operates three sugar factories in Mauritius, Tanzania and Kenya.

Alteo owns a controlling interest in TPC, the sugar factory situated in Northern Tanzania, about 50km south of Mount Kilimanjaro. Alteo also operates Transmara Sugar Company, a sugar factory located in the upper midlands of Western Kenya, almost on the equator at an altitude of between 1,800 to 2,000 m above sea level. In 2016-17, the Group produced around 300,000 tonnes of raw sugar and 167,000 tonnes of refined white sugar. Alteo plans to further expand its activities, notably in the East African region, in the aim of producing an annual 500,000 tonnes of sugar within the next few years.

In addition to its sugar activities, ALTEO owns and operates three power plants (two in Mauritius, one in Tanzania) that are fueled by bagasse or coal that export 340 GWh to the grid annually.

Alteo is also continuing its expansion into the luxury real estate sector through Anahita estate, more specifically with the development of Anahita's northern parcels. Moreover, the Group is now developing a strategy to capitalise upon its substantial land asset base in Mauritius through a variety of new real estate projects.

 

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Rubrique associé: 
Alteo
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business-sectors
External Link Title: 
www.alteogroup.com
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