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Tag Archives: Guysuco

GuySuCo denies withholding information from NICIL on spending GYD$30 billion

The Guyana Sugar Corporation (GuySuCo) on Tuesday denied accusations that it has not been accounting for more than GYD$7 billion disbursed from a GYD$30 billion bond, and insisted that it does not have to report to government’s holding company for state assets. GuySuCo’s Chief Executive Officer, Dr. Harold Davis Jr., in an initial reaction pending a comprehensive response to claims ...

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GuySuCo not showing how GYD$30 billion bond being spent; bondholders “unhappy”- NCIL

The National Industrial and Commercial Investments Limited (NICIL) on Monday said holders of a GYD$30 billion bond to help revive the Guyana Sugar Corporation (GuySuCo) have begun asking questions about how the State-owned corporation has spent GYD$7.4 billion dollars disbursed so far. “The bondholders and the trustees are not happy with the information coming from NICIL,” Head of NICIL, Colvin ...

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Rose Hall estate may be sold to Ghana-India-Guyana consortium; GuySuCo fails on vital information to NICIL

An Indian-Ghanaian-Guyanese consortium is likely to buy out the Rose Hall sugar estate, the first of three that is on the selling block, government’s holding company of state assets announced Monday. Officials said they hoped to seal the deal by July, 2019. Head of the National Industrial and Commercial Investments Limited’s Special Purpose Unit (NICIL-SPU), Colvin Heath-London said the consortium ...

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LBI estate slated for closure since 2011 – GuySuCo

The Guyana Sugar Corporation (GuySuCo) has confirmed that it will be moving ahead with plans to shut down all operations of the LBI Sugar Estate in accordance with plans that were made in 2011. In a release on Thursday evening, the sugar company called out the unions (GAWU, NAACIE) for their contradictory positions on the closure of the estate. According ...

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Sugar workers to receive 2015 Annual Production Incentive

Sugar workers are from Friday, April 1, 2016 expected to receive 2.72 days pay as an Annual Production Incentive (API), a decision that the Guyana Agricultural and General Workers Union (GAWU) has labelled “uncompromising.” A spokeswoman for the Guyana Sugar Corporation (Guysuco) told Demerara Waves Online News that the pay-out will cost the sugar producer  GYD$184.61 million The union said ...

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Aquaculture, livestock farms among plans for Wales

Agriculture Minister, Noel Holder has unveiled that among other things there are plans in place to study the possibility of opening an aquaculture and livestock farm among others at the Wales Sugar Estate. This is after Government had announced that it plans to close the Wales Sugar Factory at the end of 2016 since it would be unable to upkeep ...

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GAWU dumps Guysuco’s farming plan for Wales; claims workers being sent home

Even as the Guyana Sugar Corporation begins shedding staff from Wales Estate ahead of its planned closure later this year, the Guyana Agricultural and General Workers Union (GAWU) Monday dismissed plans to provide lands to workers for farming. Reacting to the announcement by Chairman of Guysuco’s Board, Professor Clive Thomas in the privately-owned Stabroek News newspaper at the weekend, GAWU ...

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Rescue plans for Wales floated

Rescue plans for Wales Sugar Estate have been floated, even as calls have intensified for government to commission a socio-economic study of the impact of closing that West Bank Demerara operation of the state-owned Guyana Sugar Corporation (Guysuco). Speaking at a panel discussion Friday night on the topic “”The Closure of Wales Estate: Are there alternatives?”, former Guysuco Chairman, Vic ...

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GAWU wants study on Wales Estate, as Guysuco crafts new business venture

The Guyana Agricultural and General Workers Union (GAWU) and the National Association of Agricultural and Commercial Industrial Employees (NAACIE) want a Social and Economic Impact study to be conducted on the importance of the Wales Sugar Estate. GAWU President, Komal Chand’s call comes even as the Guyana Sugar Corporation (Guysuco) is considering bringing a non-sugar venture at that West Bank ...

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GTUC, GAWU demand broad-based consultations on Wales Estate closure

The Guyana Trades Union Congress Sunday called on government to stop giving lip-service to social cohesion and the constitutional right to participatory decision-making and instead hold wide-ranging consultations with sugar workers and the community of Wales about plans to close the sugar estate there. “Consistent with Article 13 there cannot be a plan for any community without the involvement of ...

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