The Sugar Investment Trust (SIT) is a corporate body established by an Act of Parliament in 1994 that operates on a commercial basis, under the Companies Act 2001. SIT has come a long way since its establishment in 1994. Set up initially as a participation scheme in the sugar industry, SIT offered sugarcane planters and employees of the sugar industry the unique opportunity to participate in the ownership of sugar milling companies through equity. The Group is to date the largest shareholder- based public company in Mauritius, with over 55,000 shareholders within the group, comprising mainly small cane planters, labourers, agricultural and nonagricultural workers, staff and pensioners of the sugar industry and companies.
Since then, SIT has emerged as a true model of economic democratisation with a well-diversified and wealthy equity investment portfolio that is now geared towards agricultural diversification, IPPs, energy generation, leisure, and in particular the property development sector, which has successfully evolved into its core business activity and main income driver.
Over the last 10 years, SIT has remarkably expanded its footprint in the property development sector. Its latest achievements are namely, the upscale integrated property development project, Aurea-Living Harmony which comprises a mix of residential (residential plots, apartments, duplexes), commercial light industrial, educational and recreational land uses over 259 arpents at Cote d’Or, secondly, the 13-storey office building, CORE, which has positioned itself as Ebene’s iconic landmark tower.
The Group has also identified new promising economic sectors bearing the potential for investment, namely the renewable energy sector. SIT has recently embarked on a wind farm project that will comprise the construction and operation of a 9.35 MW wind farm at Plaine des Roches in partnership with Aerowatt/Quadrant and a 4 MW farm in partnership with Synnove Energy Ltd.
The Sugar Investment Trust is further pursuing its investment diversification strategy with a view to ensure medium to long term growth and an enhanced income stream the Group and its shareholders.
