Oct 15, 2016 Source
Agriculture Minister, Noel Holder, yesterday met with a team of representatives from Trinidadian-based, D. Rampersad and Company Limited, to discuss possible projects at Skeldon that could ultimately
(L-R) Mr. Ivan Cabrera, Mr. Avinash Rampersad, Mr. Nirmal Rampersad, Minister Noel Holder, CEO of GuySuCo Mr. Errol Hanoman, Mr. Noel Shewjattan and CEO of GO Invest, Mr. Owen Verwey.
see hundreds of employment and development opportunities for Guyanese.
The company is interested in developing an integrated sugar to ethanol and electric power project in Guyana.
Minister Holder welcomed the team, adding that at this time we are open to considering projects aimed at developing the industry.
Ivan Cabrera, the technologist accompanying the team, stated that Guyana stands to benefit tremendously from such a project.
“If the project is successful, Guyana has the potential to be the Caribbean’s largest supplier of raw rum.” Cabrera said.
CEO of Guyana Office for Investment (GO Invest), Owen Verwey, observed that the company was interested in conducting a pre-feasibility study at the Skeldon Estate as the site is being considered for the project.
Minister Holder informed the team that the Government is not open to selling lands to investors at this point in time.
“Government would be open to investing only through land leasing agreements.”
Skeldon factory, East Berbice.
Also present at the meeting was the Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo), Errol Hanoman. He assured the team that if the company was given permission to conduct preliminary studies, his team is willing to offer assistance where needed.
“Persons put on the project will offer any assistance needed,” Hanoman said.
A Memorandum of Understanding (MoU) is expected to be presented to the Minister of Agriculture within the next two weeks which will see the company and the Government of Guyana, through the Ministry of Agriculture, having a clear understanding of the terms under which the company will be carrying out their feasibility study.
If given the green light, the study is expected be completed before the first quarter of 2017.
Present at the meeting was Minister Holder, Hanoman, Verwey, Director of D. Rampersad and Company Limited, Avinash Rampersad; Chairman of D. Rampersad and Company Limited, Nirmal Rampersad; Technologist, Ivan Cabrera and their local representative, Noel Shewjattan.
The sugar industry is facing severe problems in terms of production and prices with expenses far outstripping revenues.
GuySuCo has been asking for billions of dollars annually in bailout with no end in sight.
Already, the cash-strapped entity has moved to close the Wales estate, citing heavy losses and consolidating the operations with Uitvlugt, another estate on West Demerara.
Several hundreds of acres will be used to grow seed paddy with a number of other diversifications on stream.
Skeldon, Guyana’s newest factory, has failed to deliver just about seven years after being commissioned.
It has been facing some serious technical difficulties.