Tag Archives: Guysuco

The Guyana Sugar Corporation (GuySuCo) says it registered a 23 percent shortfall in production up to the date that the crop should have closed, largely due to bad weather and malfunctioning equipment. At the same time, the state-owned corporation rejected claims by the Guyana Agricultural and General Workers’ Union and the National Association of Agricultural, Commercial and Industrial Employees that ...

Finance Minister, Winston Jordan says investors have been walking away from buying any of the four shuttered sugar estates, an indication that Opposition Leader Bharrat Jagdeo is fooling supporters that the People’s Progressive Party (PPP) will reopen them if his party wins the next general elections. “How you are going to open back those four estates that is scrap iron ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...