NICIL yesterday said that the sugar corporation, GuySuCo has breached the conditions of the $30b bond acquired for the industry by spending on rehabilitation works and the two sides are to set up a committee on the way forward.
In a statement, the National Industrial and Commercial Investments Limited (NICIL) was responding to a report in yesterday’s edition of Stabroek News headlined `GuySuCo being stymied by NICIL under Heath-London’s control – execs’
The NICIL statement described the article as a mixture of personal attacks on Colvin Heath-London, Head of NICIL’s Special Purpose Unit (SPU), who is also acting Chief Executive Officer of NICIL, and a misrepresentation of the facts pertaining to the disbursements of funds from NICIL to GuySuCo.
