The Morning Glory Rice Cereal Factory at Anna Regina on the Essequibo Coast remains in operation and is fully functional, according to Institute of Applied Science and Technology (IAST) Director Dr. Suresh Narine, who says that although the business is in its infancy, it has already gained a foothold in local supermarkets.
Narine made the disclosure in response to a Guyana Times report in which Region Two Chairman Devanand Ramdatt suggested that the factory had ceased operations and that its presence had made very little impact in terms of its overall contribution to the development of Region Two.
But Narine, who heads the agency responsible for the factory, told Stabroek News that for the three-plus months that the factory has been in operation, the company has recorded a profit of $6,535,812. This suggests the plant, even at this early stage of operation, is recording an approximately 20% return on investment.
“We were quite surprised by the
