A group of investors are eying Guyana’s lands to invest in oil palm cultivation.A release from the Ministry of Agriculture said that on Friday, a team of investors from Agro Atlantic (Guyana) Inc called on Agriculture Minister, Noel Holder to discuss the prospects of Oil Palm cultivation in Guyana.The Minister was accompanied by Chief Executive Officer of the National Agricultural Research and Extension Institute (NAREI), Dr. Oudho Homenauth.According to the release, the investors have since presented a proposal which could see some 100,000 hectares of land brought under cultivation. Once given the green light by the Ministry of Agriculture, the project will be completed in stages. Bruce Jupiter, Director of Agro Atlantic (Guyana) Inc. said that the company has identified Guyana as one of the most feasible investment opportunities for expansion.“Region 6 is the likely area of interest for our project which will include the establishment of an Oil Mill and Refinery as well as downstream processing facilities.As this will be the first of its operation in Guyana, a lot of preliminary work including soil feasibility study, rainfall records, soil analysis and investigations, topographic structure, social-economic impact, environmental impact assessment and others are also needed,” he said.The investment opportunity was welcomed by Holder, who stated that such an investment is necessary even as his Ministry continues to push for value-added production. He added that once the project materialized it will be the first of its kind and something which can attract other investors.The company will be working along with NAREI who will be providing guidance on soil analysis. Accompanying Bruce Jupiter were Aloysius Wu Sui Look, Director, Chiok Boon Pan, Director and Steven Young, Consultant.Over the years, there have been several expressions of interest in oil palm cultivation here.
Minister of Agriculture Noel Holder (third from right) and CEO of NAREI, Oudho Homenauth (second from right) are seen here with the prospective investors. (Ministry of Agriculture photo)
A ministerial team visited the Indian Arrival Monument site in Palmyra Village, Corentyne on Sunday and disclosed that the governments of Guyana and India have signed a co-operation agreement for its completion.
President David Granger greeting Queen Elizabeth II on Thursday at a dinner hosted by the Queen for Commonwealth Heads of Government in London.
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