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Mar 20

Mar 20

NICIL denies GNIC Cricket Ground, Mud Lots 1-11 sold

THE National Industrial and Commercial Investments Limited (NICIL) is strongly refuting claims that it has sold the Guyana National Industrial Company (GNIC) Cricket Grounds at Albert Street and Woolford Avenue, Georgetown and the lease of Mud Lots 1 – 11.

NICIL in a release said the cricket ground is under the control of GNIC which is responsible for the maintenance and general upkeep of the said grounds while the Mud Lots 1 – 11 continue to be leased to GNIC for the execution of its business activities and development plans.

“NICIL advises that any trespassing, unlawful or malicious acts be carried out on the GNIC Cricket Grounds and on Mud Lots 1 – 11 will be dealt with condignly under the laws of Guyana,” the release said.

Mar 20

– NICIL says Guyana continues to attract investors despite political situation
EVEN as the country goes through its electoral season, investors have continued to signal their interest in the local economy, which has so far seen US$1.1B in investments for this year.

This was according to Acting Chief Executive Officer (CEO) of the National Industrial & Commercial Investments Ltd (NICIL), Colvin Heath-London, in a press statement, on Saturday.

Interest in the local economy has grown significantly and continues to grow, said Heath-London, noting that a number of investors are turning their attention to Guyana as confidence in the business climate is at an “all-time high.”

He said that his team at NICIL intends to continue where they left off before the elections. He said that even though the results of the elections have not been announced, several investors, both locally and foreign, are seeking to push ahead with their investment plans.
Several foreign investors have been seeking to have their investment plans reviewed and accepted by NICIL as they remain confident that Guyana is inclined to business.

“There are continued interest being shown as more and more persons are seeking to do business in Guyana and we at NICIL are prepared to continue the work that we were doing prior to elections, as its evident that the interest continues to grow,” Heath-London said.
The NICIL head promised that government is keen on ensuring that economic growth continues, noting that the fear of locals not benefitting in a significant way should be dismissed.

He said that all the investments earmarked for Guyana will have 100 per cent local content in the pre-construction stage, and after completion of the projects a significant percentage of locals will be employed.

“This is not a case where an investment is coming but the construction stage will see foreign workers as the fear among some are. We have ensured that the investors recognise that part of their responsibility is to ensure that locals are fully employed in the construction stage, while upon completion, a significant percentage of Guyanese must be given permanent employment as we seek to aid in reducing unemployment. The objective is to create significant opportunities that locals can access,” said Heath-London.

He also noted that each project being executed will see the investors contributing in a meaningful way to a number of social programmes and projects in Guyana. This, he stressed will aid in assisting the government in its attempt to reduce social ills.

“Each investment will see the investor contributing in some way or the other to several social projects and programmes and this has been done so as to ensure that we can assist in addressing the social ills plaguing our country,” he said.

Heath-London said that with the investment portfolio in Guyana increasing, Guyana will benefit in a significant way.

“The contribution of investors to a number of social programmes will complement the government’s vision in helping to reduce some of the social ills currently experienced by Guyanese. This important note is certainly a testimony that we at NICIL are not only seeking investments but also ensuring that the investors give back significantly to assisting with social programmes in further advancing Guyana,” Heath-London explained.

He cautioned those who fear that investors are securing most of the land, dismissing this as myth. He said some persons feel that NICIL should not be selling land for major investments, but believe that those lands could have been distributed as house lots for Guyanese desperate to own their own homes.

“It is important to understand that under the law, NICIL cannot sell house lots to Guyanese. The government’s holding company owned lands are exclusively for major investment purposes,” he said.

He continued: “I have heard the grumblings of those who gripe about investors gaining lands. We review each application for land from investors and based on their generational vision is what determines the number of acres that they receive. NICIL will pursue investments aggressively, but only in the country’s interest”.

Heath-London stressed that his team ensures that all legal requirements are followed, noting that no investor will be allowed to come in and roam without being cognisant of their responsibility to the government and people of Guyana.

“Our legal standards will not be compromised, or our regulations sidestepped in the effort. The covenant we have brokered to guarantee that Guyanese are majority employees in the construction and other phases of these projects must be honoured,” he said.’
Source: The Guyana Chronicle.

Mar 20

As Guyana continues to be in a state of uncertainty over Monday’s elections, which have not seen a winner announced for a new government, a developer has said that it remains cautious and will not move ahead just yet.

“Due to an uncertain business environment, Windsor Estates/Navigant Builders, a US-based real estate developer will hereby be postponing its plans for the proposed Ogle project.

“We would also like to state that this decision is non-partisan in nature, and that we are prepared to move forward with this project once a democratic and credible resolution to the election has been reached,” a statement from Windsor Estates’ principal, Danny Sawh, said yesterday.
The statement was also carried on the developer’s Facebook account.

“We urge all parties and the people of Guyana to remain calm during this time.”

A number of businesses have been expressing worry over the political climate, which has brought the city to the standstill and patches of protests on the coastlands yesterday.

Banks and gas stations have been shuttering their windows. Police fired tear gas at Opposition-aligned supporters yesterday at Lusignan.
The ambitious second-phase development at Ogle, East Coast Demerara, would have cost the developers of Windsor Estates $900M for the lands alone.
The developer is planning to sink US$83M that will see a mixed-use urban village, consisting of high-end residential condos and townhomes and Class A offices and business suites on the 30-acre plot of land which will be located not far from a planned bypass road.
Navigant is credited with building its flagship project, Windsor Estate, East Bank Demerara, a gated community true with Florida-styled home, palm-lined avenues and town houses.

The 30-acre lands at Ogle were formerly under sugarcane. They were transferred to the National Industrial and Commercial Investments Limited (NICIL).

Almost 800 acres between Ogle and Lusignan have been released for developments with at least three brand name hotels, including AC Marriott and Hilton, expected to be constructed in the area not far from the Ogle airport.

Navigant was one of several companies expressing interest in 2017 when NICIL asked for submissions.

Source: Kaieteur News.

Mar 20

Guyanese at home and abroad have invested some US$600M in projects in the past year according to official National Industrial and Commercial Investments Limited (NICIL) records.

“There are more and more Guyanese living in Guyana and abroad who have expressed interest in doing business here.

“With the increased interests being shown by foreigners more Guyanese are seeking to be part of what Guyana has to offer presently,” acting Chief Executive Officer (CEO), Colvin Heath-London disclosed in an interview Saturday.

Heath-London attributed the swell in investments recently to “the continued faith and confidence” in the government’s vision by Guyanese and foreign investors.

He said the government’s holding company has approved 13 projects put forward by Guyanese in the past year. These will create some 3,800 temporary and 1,400 permanent jobs in the construction, hospitality, health and other sectors.
“This is the level of development that will certainly push a country forward, positively, and as such, create jobs among other numerous benefits for the citizens,” Heath- London said.

He said, “Guyanese at home and abroad have recognised that a number of foreigners are continuing to show significant interest in this country and like any intelligent businessman and woman, they firmly believe that they too can play an important role.”
Heath-London believes that the recent flood of investment interest in Guyana is “just the tip” of the proverbial iceberg.

Navigant Builders Inc. the company behind the Windsor Estate Developers is plugging a further US$83M into fresh projects in Guyana. In addition, another local project, the CORUM Group is throwing US$20M into their scheme, which involves a 150-room Holiday Inn Hotel, Retail Development, office Building and a Mall Outlet.

W&T George and Company Ltd is pursuing a US$50M initiative on a 20-acre plot, which includes building townhouses, upscale single-family units and a shopping mall, creating a community of wellness.

Heath-London said, too, that a team of local doctors is behind a US$20M plan under the name Cardiology Services Inc. to provide a state-of-the-art health care facility for cardiology and neurology patients with supporting services.

Ava Management and Consultancy Services will plug US$15.2M into a hotel and residential town houses; Adamantium Holdings will build four-apartment condominiums to the tune of some US$20M. Premier Sales and Services and Elysium Investment will also invest a similar amount, the former to build a two-storey stacked townhouse and mid-rise condominiums while the latter would be constructing a total of seven high-end condominiums over the next five years at Ogle on the East Coast corridor.

“These are just some of the major projects that will be executed during 2020,” Heath-London said.

Source: Kaieteur News.

Mar 20

Although there were some hiccups, much needed support has been forthcoming to the family of stabbed Linden schoolgirl, Shashamani Williams.

The most recent bout of support came compliments of the Chief Executive Officer (ag) of the National Investment and Commercial Investment Limited (NICIL), Mr. Colvin Heath-London.

Speaking of this development recently was founder of the Linden Youth Vision, Dexton Copeland. His organisation was among a group of other organisations that join forces annually to pull off a project called Hands of Change.

Copeland’s organisation was the primary organisation spearheading the project – the completion of a three-bedroom house for the Williams’ family. The family was able to move into the home last Thursday, Copeland said.

He however revealed that while planning the project was not easy, there were some prevailing challenges. This, he said, translated to some persons, who gave a commitment to give support towards the construction of the house, failing to do so. This had stalled the completion of the project.
But according to Copeland, his organisation was advised to reach out to NICIL for help to meet the shortfall.
According to him, NICIL’s CEO immediately agreed to provide the needed support.

“What I can tell you is that his financial support is very significant as it helped us to go a very long way. We were seeking to complete this home in a timely fashion so that the young lady and her family could be in a much more comfortable home,” he said.
Following her discharge from hospital and before the completion of the house, the Williams’s family was housed at a hotel in Linden, Copeland said.
“We understand the challenges and the fact that we wanted to bring her to a better environment with her parents and other siblings, so we were working very hard to complete it and at a very high standard,” Copeland added.

Several other persons had also thrown their support behind the project and, according to Copeland, their support helped to ensure that the spirit of giving back and volunteerism is reinforced in the community.

According to Copeland, too, the parents of the female student accused of harming Williams have expressed heartfelt apologies and have also committed to offer some form of compensation to the injured girl.

Copeland revealed that the assistance that has been received from Heath-London in his personal capacity went towards the completion of the ceiling, roof, and doors.

He said, too, that the NICIL CEO also committed to providing further assistance directly and indirectly that can aid the recovery of the injured young woman.

Source: Kaieteur News.

Mar 20

NICIL garners over US$1.1B in investment value for 2020

THE National Industrial and Commercial Investments Limited (NICIL) has been able to mobilise USD$1.1B in investment for Guyana in 2020.

In a press release on Saturday, members of the Board of NICIL pointed out that the government holding company garnered the US$1.1B in investment value for the country for 2020, thus being the most active sector/agency within the country. They said further that NICIL is on the way to unleashing its full investment potential capacity.

According to the release, members of the Board said that the investments secured through a multitude of investment projects, payment of fees and other investment-related costs will help spur “significant economic growth and development” nationwide. This, they stressed, will continue to aid with significant national development.

“We have seen massive inflow of investment value coming and this was primarily possible through the prudent and excellent negotiations that were executed under our young and vibrant management team,” Board Director, Dr. Grantley Waldron, said.

The members of the board pointed out that since the appointment of Colvin Heath-London to hold the reins of NICIL two years ago, the CEO has been on a sustained push to lure lucrative investments into the country. “So far, he has been successful. …he has been able to attract some of the top investments that this country has seen in its history within this sector. Heath-London has, however, promised to increase the momentum since increasing numbers of local and international investors have signaled their intention to do business here,” the release said.

“The Board continues to be marvelled by the level of investments coming in, while we are impressed with the number of persons who seek to do business here,” members of the Board noted.

They said that NICIL continues to demonstrate that as the government’s holding company, that it is executing its agenda and mandate professionally, thus ensuring that Guyanese at all levels benefit significantly from the various levels of investments, as we are seeing various types of investments, which augur well for Guyana and Guyanese,” they added.
The members of the Board stressed that with investment value being pegged at USD$1.1B in less than one year, it will boost other sectors declaring, that it’s not oil and gas that is leading the economy. They related that it is unprecedented for NICIL or any other investment entity in Guyana, and so far, surpasses even oil and gas projected earnings.
They added that some 3000 plus jobs are being created, thus resulting in the general public having access to more money, which ultimately will redound in increased business among other sectors. Grantley said that much more is planned and NICIL will champion the cause of investments and social responsibility.

Meanwhile, Heath-London said that he remains humbled to be heading a diligent, committed and dedicated team that has been working assiduously to ensure that they secure significant, quality investments for the country. “The investors who have been expressing interest are not only foreigners, as we have Guyanese at home and abroad who also have interest and are serious about investing,” he said.

He continued: “There is no question or doubt that NICIL will be keeping the economic wheel of this country turning as it continues to ensure that Guyana garners significant economic investment. Some years ago, this would have been unheard of but thankfully, owing to a number of factors, investors are clamoring to come to Guyana and through NICIL we are ensuring that the right systems are put in place to receive their investments,” the NICIL head said.

He pointed out that among the revenues that NICIL has secured over the past year are the US$3M from Bosai; US$10.M from the Guyana Telephone and Telegraph Company (GT&T) and a significant amount from several other investors from deals to build hotels, condominiums, restaurants and the specialty hospital project among others.

“There are more investments that we will continue to generate through NICIL for this country and I can assure you that it will continue to increase tremendously,” Heath-London projected.

Mar 20

NICIL’s CEO reaches out to stabbed teen

Founder of Linden Youth Vison, Dexton Copeland, stands in the centre as Shashamani’s father Maynard Williams and mother of the young lady who stabbed her, Nichelle Fable, share a light moment.

– lends financial assistance

CHIEF Executive Officer acting of NICIL, Colvin Heath-London, has come forward to lend what has been described as critically important financial assistance to the stabbed Linden teen, Shashamani Williams and her family.

It was revealed that the project dubbed Hands of Change, involves different organisations that band together to do projects annually.

As such, the primary organisation, Linden Youth Vison’s Founder Dexton Copeland, said after the group encountered severe challenges because some persons who had made commitments failed to honour them, they sought some more support.

This, he said, was to complete the house within the time that they have set.
He related that his group reached out to the NICIL acting CEO who immediately agreed to provide the required support.

“What I can tell you is that his financial support is very significant as it has helped us in a very long way, as we were seeking to complete this home timely so that the young lady and her family could return to a much more comfortable home,” he said.
The founder of the NGO related that the family was housed at a hotel in Linden after being discharged from hospital, while the three-bedroom home was being completed.
“We understand the challenges and the fact that we wanted to bring her to a better environment with her parents and other siblings; so we were working very hard to compete it timely but at a very high standard,” Copeland said.

He admitted that despite the view by many that the project was ideal and an excellent one, there were difficulties in securing the additional funds needed.

Still hurting, Maynard Williams expressed his gratitude to NICIL’s Colvin Heath-London

As such, they reached out to Heath-London after some residents made the suggestions to contact him for help. “We were very happy with his commitment to help and impressed in how quickly he delivered on his commitment as he ensured that we secured the items immediately,” the young leader said.

He stressed that the NGO received assistance from several persons, noting that it has helped to ensure that the spirit of giving back and volunteerism is reinforced in the community.

The Linden Youth Vision Founder said the young lady’s parents, who have been accused of being involved the incident, have also been playing their part in a meaningful way.
He disclosed that both the mother and father of the stabber have personally apologised to the parents of the teen, giving their commitment that they are prepared to offer some form of compensation for the injuries caused.

“While the DPP has not made a determination on whether charges will be laid against the young lady who stabbed her, the parents are assisting in whatever way possible and what is very pleasing is that both sides are seeking to resolve their differences in a very peaceful and amicable manner,” Copeland said.

He continued: “It’s no secret that the father of the stabbed teen is evidently upset and disturbed by the stabbing of his daughter, but equally so is the mother of the two accused, as she has admitted and revealed to us that she is stunned by her daughter’s action as she still hasn’t come to grips with the reality that her daughter could have been responsible for the loss of life of another teen. We as a group are working with both sides to help bring about some healing, some forgiveness and some understanding that differences can still be settled without the police intervention.”

Copeland pointed out that the assistance that has been received from the NICIL acting CEO was used to take care of the ceiling, roof, and doors, noting that he has committed to providing further assistance directly and indirectly to ensuring that the young lady is supported on her road to full recovery.

The young Linden businessman said that they are pleased with the overall response of many persons. He said the family is extremely pleased with the outpouring of love and concern that has been shown thus far to them.

He declared that while many persons contributed in some way or the other, it was the contribution of Heath-London which was regarded as the largest, stressing that his contribution alone was very large.

“Heath-London helped in a major way as his contribution surpassed that of every other person and was really significant. We do not collect monies from anyone for any of our project as all, we would collect are the materials and whenever someone wants to give financially, we would ask them to give materials instead,” he said.

He continued: “We are very happy with Colvin’s help and is pleased that he has committed to continue lending valuable support and assistance to aid her in her full recovery attempts. He has also reassured us that whatever assistance that we may need further that he is committed and dedicated in ensuring that we secure it.”

Copeland disclosed that the project was completed to the tune of just over $1M.


Source: Guyana Chronicle

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