Mitr Phol puts a stop to all investment in Maryborough sugar
MITR Phol have announced they will cease all new investment in the Australian sugar industry following the LNP sponsored re-regulation of Queensland's sugar industry.
Mitr Phol owns MSF Sugar which operates the Maryborough sugar mill.
The announcement is another blow for the region which had already been warned the company was pulling out of the $660 million Mary Harbour project.
MSF CEO Mike Barry said the company had made a strategic decision to reassess its funding allocations across the globe.
"There is global competition for capital. For the near term Mitr Phol's investment in sugar will be directed to its sugar operations in Thailand, Laos and China," he said.
"Unfortunately for our Australian business this means reduced funding and almost certainly fewer jobs for Maryborough, South Johnston, Gordonvale and the Tablelands where our mills operate."
Mr Barry said essential funding would continue and that MSF would do everything in its power to ensure the Maryborough mill remained viable.
The move has prompted Member for Maryborough Bruce Saunders to call for councillors and council candidates to join him to put pressure on state Member for Hervey Bay Ted Sorensen and Deputy Prime Minister Warren Truss to support the future of MSF in Maryborough.
"Because Ted Sorenson's supported this Bill, MSF has stated , with no future investment planned local, it is almost certain there will be less jobs in Maryborough," Mr Saunders said.
"With less jobs not more, this will effect small businesses and supporting workforce across the Fraser Coast in the most negative way."
Mr Saunders said with council elections due March next year, the community deserved to know where their council representatives stood on the issue.