2001: DISINVESTMENT FROM FUEL AND CONSOLIDATION OF INTEREST IN MÉDINE

Oct
10
2016

The year 2001 was a major milestone in PAD’s history when the company disinvested from FUEL in order to consolidate its interest in Médine. PAD became Médine’s largest shareholder, with an economic interest of c. 30%. A profound re-think of Médine’s sugar-dominated strategy was then engaged. In a similar vein as Tongaat-Hulett in South Africa, Médine’s land and water resources have to be juggled continuously – a delicate balancing act. The sugar mill is the smallest of the four remaining mills in Mauritius, and it has no scale benefits. In 2005, a 20-year master plan for Médine was developed by a team consisting of architects, urban planners and sociologists. The basis of the Médine Master Plan (MMP) was sustainable integrated development. Médine has some of the best land for agriculture and property development on the island, but the factory area also harbours some pockets of absolute poverty. Médine’s Corporate Social Responsibility team is active on the ground, working with government and local NGOs in all aspects of community development. Sugar land is now making way for agricultural diversification, property development and other land uses as appropriate.