Indian company looks to invest in Guysuco

THE Government of Guyana on Thursday announced that 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 Guyana Sugar Corporation (GuySuCo). In a statement to the media, the Ministry of Agriculture said that cash-strapped GUYSUCO has been for a number of years requiring constant bailouts from the state and since taking office, the APNU+AFC administration has been exploring avenues to attract new markets and possible investments.
“The delegation, which will be led by Mr Rajesh Kumar Agarwal, President of Integrated Casetech Consultants PV T. LTD and Mr Tony Joseph, Managing Director of Sunrise Holdings, will visit the major sugar estates, prior to having meetings with the Government,” the statement said.

During the one- week visit to Guyana, the delegation will meet with Prime Minister Moses Nagamootoo and other ministers, as well as senior officials of the sugar company.
Meanwhile, the government has expressed concern over the slothfulness in which consultations among it, the opposition, GUYSUCO and unions on the future of the industry are progressing. According to the Ministry of Agriculture, consultations began on December 31 and all stakeholders were presented with proposed options for GUYSUCO and have undertaken to study the documents and the implications after which submissions of additional ideas would be put forward to expand the range of options.