Latest update November 8th, 2024 1:00 AM
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Financing is for GuySuCo, not the four closed estates -Enmore’s reopening in three weeks
Enmore Estate is set for reopening in three weeks, with the focus on molasses production.
The Enmore factory is expected to restart operations in as little as three weeks with molasses production expected to be the main production activity.
It will not be on par with the level of operations before, officials of the Ministry of Finance confirmed yesterday.
The officials also clarified recent reports in the press where according to Minister of Finance, Winston Jordan, moves are underway to source financing for the closed Skeldon and Enmore estates.
“I can confirm to you that the minister was misunderstood. The financing being sourced is for the operations of GuySuCo and its three estates- Albion, Blairmont and Uitvlugt- it has nothing to do with the four closed estates. That is being handled separately,” an official close to the process said.
With regards to Enmore, under the temporary arrangements with the Demerara Distillers Limited (DDL), there over 30,000 tonnes of canes in the ground at that estate. It will be used to produce mainly molasses for DDL. Molasses is a key ingredient in the rum-making process.
DDL is the producer of the award-winning El Dorado rums.
Last week, there was a misunderstanding after former staffers hired to conduct maintenance works at Enmore were turned away.
They were reportedly sent by the Special Purpose Unit (SPU), an arm of the state-controlled National Industrial and Commercial Investments Limited (NICIL).
The SPU has been handed the task of finding investors for the closed estates- Skeldon, Rose Hall, Enmore and Wales.
Meanwhile, Kaieteur News has learnt that Government has started making some structural changes at GuySuCo.
Now under the control of NICIL, GuySuCo’s Board is about to be changed also.
The previous board has overseen the closure of the four estates with Government expressing unhappiness over the manner that GuySuCo sent home the 4,000 workers who lost their jobs as a result.
SPU has hired international consultants, PricewaterhouseCoopers, to value the four closed estates in anticipation for privatisation and divestment.
The process is being closely watched.
GuySuCo has been racking years of losses with workers turnout about 60 percent.
In addition, consecutive Governments have been doling out billions of dollars annually to bailout GuySuCo.
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