Large- scale investment in Palm Oil for Guyana – trees can produce 4 tonnes of crude oil per hectare annually
A group of investors are eyeing Guyana’s arable lands to invest in Oil Palm cultivation. Today, a team of investors from Agro Atlantic (Guyana) Inc. called on Agriculture Minister, Noel Holder in his Regent and Shiv Chanderpaul Drive office to discuss the prospects of Oil Palm in Guyana. The Minister was accompanied by Chief Executive Officer of the National Agricultural Research and extension Institute, Dr. Oudho Homenauth.
Taking advantage of Guyana’s tropical climate, the investors have since provided a proposal which could see some 100,000 hectares of land brought under cultivation. The process once given the green-light by the Ministry of Agriculture will be completed in stages.
Mr. Bruce Jupiter, Director of Agro Atlantic (Guyana) Inc. stated that while the company is looking to expand its oil palm production, it has identified Guyana as one of the most feasible investment opportunities for expansion.
“Region 6 is the likely areas of interest for our project which will include the establishment of an Oil Mill and Refinery as well as downstream processing facilities. As this will be the first of its operation in Guyana, a lot of preliminary work including soil feasibility study, rainfall records, soil analysis and investigations, topographic structure, social-economic impact, environmental impact assessment and others are also needed,” he said.
The investment opportunity was welcomed by Agriculture Minister, Noel Holder, who stated that such an investment is necessary even as his Ministry continues to push for value-added production. He added, that once the project materialized it will be the first of its kind and something which can attract other investors can use to follow suit.
The company will be working along with the National Agricultural Research and Extension Institute (NAREI) who will be providing guidance on soil analysis.
Also accompany Mr. Bruce Jupiter, were Mr. Aloysius Wu Sui Look, Director, Mr. Chiok Boon Pan, Director and Mr. Steven Young, Consultant.