Local machining company Guysons has clinched a US$60m joint venture for oilfield manufacturing at Enmore that will see the GuySuCo sugar packaging plant being transformed into a fabrication facility.
While creating jobs the deal will also represent privatization of a key part of GuySuCo’s assets which had once been played up as a money spinner. The East Coast Demerara packaging plant had been built in 2011 at a cost of US$12m.
Following the acquisition of 55 acres of former Enmore Sugar Estate lands, Guysons entered into a US$60 million joint venture with the United States equipment manufacturer K&B Industries to transform the packaging plant into a fabrication facility for the oil and gas industry.
