Agriculture Minister meets with investors to discuss possible projects for Skeldon

Ministry of Agriculture, Guyana, Friday, October 14, 2016

In an effort to further develop the sector, Agriculture Minister Noel Holder today met with a team of representatives from Trinidadian based D. Persaud and Company Limited to discuss possible projects at Skeldon that could ultimately 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.

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

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

Mr. 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.” Mr. Cabrera said.

CEO of Guyana Office for Investment (GO Invest) Mr. 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.”

Also present at the meeting was the Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo) Mr. 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.” Mr. 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 D. Rampersad and Company Limited 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 of Agriculture Noel Holder, Chief Executive Officer of GuySuCo Mr, Errol Hanoman, Chief Executive Officer of Go Invest, Mr. Owen Verwey, Director of D. Rampersad and Company Limited, Mr. Avinash Rampersad, Chairman of D. Rampersad and Company Limited, Mr. Nirmal Rampersad, Technologist, Mr. Ivan Cabrera and their local representative, Mr. Noel Shewjattan.

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