Ninety percent of the preliminary valuation work for sugar estates to be privatized has been completed and the unit set up by the government to oversee the process also clarified yesterday that $30b in bond financing for GuySuCo has been backed by a repayment guarantee from the government and not secured by the corporation’s assets.
The Special Purpose Unit (SPU) under the National Industrial & Commercial Investments Limited (NICIL), yesterday said in a statement that the multinational PricewaterhouseCoopers (PwC) professional services network is presently completing information memoranda (IM) for each estate. The IMs will encompass the asset registry and land inventory for each estate. The completed IMs will be published for potential investors and public scrutiny within the next two weeks, the statement said.
It is expected that potential investors would begin visiting the various estates in August to make assessments of the facilities as part of the preparation of their proposal to the SPU.
