The Special Purpose Unit (SPU) established to facilitate the privatisation of the three sugar estates closed by the APNU+AFC government is hoping to complete its first sale in July even as it says it is battling to access information from the Guyana Sugar Corporation (GuySuCo).
“Of the three estates up for privatisation, Rose Hall has received most of the interest. Out of the three companies interested in Rose Hall, [Pricewater-houseCoopers] is finalising discussions with one of the companies. Discussion are in a delicate state… we are hoping that by the end of July we can have an agreement which we can ask Cabinet to ratify” Head of the SPU Colvin Heath-London told a press conference yesterday.
According to Wilfred Baghaloo, of valuator PricewaterhouseCoopers (PwC), the “front runner” is a joint Indian/Ghanaian consortium which is likely to produce sugar as well as inputs for the cosmetics industry at the estate. The consortium includes persons from India, Ghana and Guyana. The Guyanese include those providing legal services and former management of Rose Hall while Ghanaians are providing logistics and factory knowledge and the Indians technical expertise in sugar and machinery.
