The Chief Executive of the Sugarcane Growers Fund, Sada Sivan has been elected the new chairperson for South Pacific Fertilizers Limited this morning.

A meeting of directors of the fertilizer company was held where two names were floated including Sugarcane Growers Council representative Marika Silimaibau for chairman's position.

The Directors then elected Sivan, who accepted the position.

Sivan told Fijivillage News that he will now start to look at options to start repaying the $15 million loan taken from Sugarcane Growers Fund. He said they will also seek financial assistance from the interim government.

Sivan confirms the fertilizer company started to make a loss from 2005 when prices of fertilizer in the world market started to increase however cane farmers were sold fertilizer at old price.

He said cartage of fertilizer also increased forcing the company to take loan of $15 million from Sugarcane growers Fund.