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Indian company to explore investing in sugar

January 19, 2017 Source

Srinath Ispat Limited, a firm based in India with extensive knowledge of the sugar industry, will be in Guyana from Monday, January 23, 2017 to have dialogue with the Guyana Government  on possible investments in the beleaguered Guyana Sugar Corporation (GuySuCo), a statement from the Ministry of Agriculture today said..

The delegation which will be led by  Rajesh Kumar Agarwal, President of Integrated Casetech Consultants PV T. LTD and Tony Joseph, Managing Director of Sunrise Holdings, will visit major sugar estates, prior to having meetings with the Government.

During the week-long visit, the team will be meeting the Prime Minister and First Vice President,  Moses Nagamootoo and other Ministers as well as senior officials of GuySuCo.

A Trinidadian company last year signed a Memorandum of Understanding with the Guyana Government to embark on a feasibility study on a possible investment in the Skeldon estate.

The government faces major decisions on the sugar industry and has recently held discussions with the opposition PPP/C on the way forward. In its statement today, the ministry noted that on December 31, 2017 consultations began between the Government, GuySuCo, the Opposition and Unions on the future of GuySuCo. The statement said that stakeholders were presented with the proposed options for GuySuCo and undertook to study the documents and the implications after which a submission of possible additional ideas would be made to expand the range of options “so that an agreed position could be decided on in a timely manner on the future of GuySuCo”.

The statement said that the “Government is at this stage concerned, that no response has been provided by the Opposition or the Unions which could be tabled for consideration”.

Observers have noted that the government is expecting a considered response from the opposition in three weeks when it has had 20 months of control over the sugar industry without being able to come up with definitive plans.

The Ministry statement added “It is important that the process of consultations be condensed, particularly since there are significant financial, economic and social implications attached to an extended delayed process for consultations”.

It noted that GuySuCo has requested $18B from the Government for 2017 but that the National Assembly had only approved $9B of which $3B has already been disbursed and utilized by the corporation. The remaining $6B is due for disbursement in March, 2017. Recommendations on the financing of the deficit has been made by GuySuCo for consideration and a decision is urgently awaited, the statement said.

“It is evident, in view of the amount of its financial commitments, unless a decision is made on the future of GuySuCo, the cash strapped corporation will only continue to be a liability to the Government.

“The Government of Guyana has presented a number of alternatives to keep the Corporation afloat including diversification of its activities which has been shared with stakeholders. If a decision is not made on a way forward as a matter of urgency, the future of the sugar industry would be jeopardized”, the statement added.

Replies sorted oldest to newest

Good if they come and invest,bring 10,000 to work and get them to vote PPP pun tap again.

The crew on this BB will be happy camper Jaggy[Indo savior and Dictator for life] will run things.

Django
Last edited by Django
Django posted:

Good if they come and invest,bring 10,000 to work and get them to vote PPP pun tap again.

The crew on this BB will be happy camper Jaggy[Indo savior and Dictator for life] will run things.

I hope they bring not 10,000, but 100,000 dalits.

FM
cain posted:

To do what take away jobs from Guyanese canecutters? Ayou rass mad. Doan worry..Min of Citizienship gonna put the brakes pon dem. See..this is one reason for said Ministry.

Cane cuttahs not needed anymore. Dey gat wan ting name mechanical harvester now. De teknalagy improvin dese days.

FM
cain posted:

Is dah why you need 10000 peeps? Some technalagy baie.

Some of them will pickup the dropped cane, some of them will pull the punts, some of them will work in the factory, some will clean the canals. There will be work for all of them. There will be no electricity subsidies. Guyanese men say that cane cutting is hard work and refuse to do it. I remember my father saying that, but he still went to work.

FM

So now you all for the Govt kick out all dem hard workin men and start pack in foreigners?

Perhaps when hiring foreign workers Granger should hire dem Mexicans who fleeing US just to piss u off.

cain

India might not be a bad idea.  India is a high sucrose consuming nation and Indian farmers struggle for competing farmland for other agro products.  I've always contend, the only way forward is for GUYSUCO to become part of a larger value-chain as sugar is very limited beyond raw sugar itself.

Sugar in India employs lots of cane cutters just like Guyana.  It is not heavily mechanized.  The only difference I saw, they don't burn the cane as we do in Guyana.  The reason is pollution and containment.  There may be something here, let's see!

FM
Bibi Haniffa posted:

Why are they wasting people time? Close down the sugar estates.  Oil money coming. 

Oil is not the be-all and end-all to any nation's problems.  The Oil rich nations suffer a lot of instability due to youth unemployment as oil is not a labor intensive industry. Oil could act as the collateral spawning other industries through infrastructure, cheap power and other spending.

One just have to look next door to Venezuela to see the implications of too much petrochemical focus.  If they had taken the time to invest in their Agro-economy and other sectors, those would have cushioned the blow of low oil prices.  Employment in these inelastic sectors such as food would have ensured employment and stable livelihoods.  These non-oil sectors could be the conduit through which oil wealth flows to the masses.

People too quickly jump to easy solutions which lead to more difficult problems down the road.  I hope who ever rules Guyana, they understand the balance, and approach with the maturity needed.

FM
Abu Jihad posted:

Most wealthy countries subsidize their agricultural sector for good reason.  Guyana needs to do the same.

Basic Agro-products exist in a perfect market economic environment.  This means profits can only be made when demand outstrips supply.  The implication, society have to accept some not having enough to eat.  No society accept this as a norm.  Agro subsidies are there to ensure there is amply supply and enough reserves to absorb temporary shocks and that farmers still make money.

I know some people will have issues with what I say, but Burnham's FCH programs did include this and local farmers benefited.  The ideas were good.  The PPP should have adopted some of these models into their Agro programs!

FM
ba$eman posted:
Abu Jihad posted:

Most wealthy countries subsidize their agricultural sector for good reason.  Guyana needs to do the same.

Basic Agro-products exist in a perfect market economic environment.  This means profits can only be made when demand outstrips supply.  The implication, society have to accept some not having enough to eat.  No society accept this as a norm.  Agro subsidies are there to ensure there is amply supply and enough reserves to absorb temporary shocks and that farmers still make money.

I know some people will have issues with what I say, but Burnham's FCH programs did include this and local farmers benefited.  The ideas were good.  The PPP should have adopted some of these models into their Agro programs!

He had some good programs,unfortunately the management was plugged with square pegs in round holes,then power flew to his head that caused devastation to the nation.

All his ideas gone fuh channa.

Django

Indians will have to come to the rescue, I always say if sugar is successful in other countries why can't it do good in Guyana, the answer is POOR management compounded with a bunch of lazy bastards. I remember seeing Municipal workers would work half day and sleep the other half, when questioned they have PNC cards. Many of those people come and now working 10 hours a day in Canada and do what ever the WHITE boss says. So the political environment encourages laziness in Guyana, when one votes for a party they feels that the party owes them for life.

K

Something doesn't add up in this report that "Indians" are interested in investing in GuySuCo.

Demerara Waves reports: "Two Indian companies – one  an alloy steel casting manufacturer for sugar factories and another specialised in sugar production- as well as a United States (US)-based company owned by a Guyana-born American freight forwarder are interested in investing in the ailing Guyana Sugar Corporation (GuySuco)"

Stabroek News reports: "Srinath Ispat Limited, a firm based in India with extensive knowledge of the sugar industry, will be in Guyana from Monday, January 23, 2017 to have dialogue with the Guyana Government  on possible investments in the beleaguered Guyana Sugar Corporation (GuySuCo), a statement from the Ministry of Agriculture today said..

The delegation which will be led by  Rajesh Kumar Agarwal, President of Integrated Casetech Consultants PV T. LTD and Tony Joseph, Managing Director of Sunrise Holdings, will visit major sugar estates, prior to having meetings with the Government."

So, the US-based company Sunrise Holdings is owned by Guyana-born American freight forwarder Tony Joseph, who happens to be Moses Nagamootoo's son-in-law. Isn't something odd here? Some clarification is necessary.

FM

Indian sugar companies have invested big money in the Brazilian sugar industry. Yet these koolies bypass Guyana that had an East indian president and a sugar industry that employed many people of East Indian ancestry. That is koolie for you. They prefer to help white People than help their own brothers and sisters. 

 

 

Prashad
Django posted:

http://www.intcasetech.com/

One company is ligit,no footprint for Sunrise Holdings.

Sunrise Holding was set up to collect contracts Joseph is anther Motie from Florida  that was hired to build roads with variety store experience. 

K

Under this guys.  This is happening under your PNC, so don't blame the PPP.  I can tell you, the PNC will not hold a fire sale and who ever buys must have a sound plan.  I don't think any company will buy to just let it go.  There is no resale value in parting out the factories.

Another, Indians and his money is a difficult thing to part.  Them Indians got a plan to make it work!  If you don't trust the PNC or the PPP, you can trust the Indians to put his money where his mouth is!

FM
Last edited by Former Member
Prashad posted:

Indian sugar companies have invested big money in the Brazilian sugar industry. Yet these koolies bypass Guyana that had an East indian president and a sugar industry that employed many people of East Indian ancestry. That is koolie for you. They prefer to help white People than help their own brothers and sisters. 

 

 

EhEhhhh banna u see how dem peope stay.

cain
cain posted:
Prashad posted:

Indian sugar companies have invested big money in the Brazilian sugar industry. Yet these koolies bypass Guyana that had an East indian president and a sugar industry that employed many people of East Indian ancestry. That is koolie for you. They prefer to help white People than help their own brothers and sisters. 

 

 

EhEhhhh banna u see how dem peope stay.

Good to point it out brother Cain.

Prashad
Prashad posted:

Indian sugar companies have invested big money in the Brazilian sugar industry. Yet these koolies bypass Guyana that had an East indian president and a sugar industry that employed many people of East Indian ancestry. That is koolie for you. They prefer to help white People than help their own brothers and sisters. 

 

 

Prash I would say Moses Son in Law, Tony Joseph is coolie and he might help out coolies. But i don't know if his daughter married a coolie since Moses said he is not coolie.

FM

I would have been happy if Moses had said that he belongs to the Guyanese East Indian Nation. Because at the end of it all. We East Indians of Guyana are our own nation and our own people. India, Pakistan, Bangladesh, Nepal and other forms of koolie crabdog fight up and koolie self hate can go to hell or can drop dead for all I care.

Prashad
Last edited by Prashad
Django posted:

Good if they come and invest,bring 10,000 to work and get them to vote PPP pun tap again.

The crew on this BB will be happy camper Jaggy[Indo savior and Dictator for life] will run things.

Don't be naïve.  The Indians will not take over the Industry unless there is something for them.  As I see it, 10,000 sudras are not enough to generate a profit, considering over 100,000 left the country.

R

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