Developers of a mega green-energy project in Region 10 were earlier this month served with a notice of termination by the state holding company, National Industrial and Commercial Investments Limited (NICIL), in which it was explained that the entity had failed to deliver its objective as outlined in its business plan.
The company – Guyana Initiative Against Climate Change (GIACC), which aims at producing two types of fertilisers using renewable energy and raw materials of air and water, was served with their first notice of intention of termination of their deed of lease back in November and received their final notice on March 3 this year.
The termination was brought to light, through a press statement from the Linden Chamber of Industry, Commerce and Development (LCICD) in which it voiced its disappointment at the treatment of the matter.
