Funding of $30 billion (US$150m) is being sought for the sugar industry over the next four years, according to a statement yesterday from government holding company, NICIL and its Special Purpose Unit (SPU) set up to oversee privatisation of GuySuCo’s estates.
The funds, the statement said, will provide a much needed capital injection, support infrastructure maintenance and upgrades at the Albion, Blairmont, and Uitvlugt estates, which the state is keeping, and develop new co-generation capacity to support estate operations and sell to the national power grid.
The statement also said that the NICIL-SPU is collaborating with GuySuCo. There had been tension between the two sides recently over access to the estates and control over machinery among other areas.
