– printery, antibiotics plant among facilities
A US$30 million investment is about to take off at the old Sanata Textile Mill complex at Industrial Site, Ruimveldt.
It will include a modern multifunctional printing press, new textile milling equipment and a research and development (R&D) facility for the manufacture of pharmaceuticals.
The investment promises 1,200 new jobs, half of which should be a reality by the end of this year.
This is according to a joint statement issued by National Industrial and Commercial Investments (NICIL), Queens Atlantic Investment Incorporated (QAII) and the New GPC Incorporated (NGPC) yesterday.
QAII is the parent company of NGPC, which was established after the privatisation of Guyana Pharmaceutical Corporation.
The privatisation of Sanata has taken the form of the issuance of a 99 years lease to QAII at a substantive rental of approximately $50 million per annum. The government through NICIL has implemented strict guidelines for the execution of this project.
