NICIL as a parent company (holding company), is required to prepare consolidated accounts or group accounts to be laid over at the same time at the parent company’s annual general meeting. NICIL has 13 subsidiaries all of which are Government Companies.
Property Holdings Limited
Property Holdings Inc is a company that was incorporated on October 5, 1999 for the specific purpose of managing or disposing of property owned by Guyana Stores Limited (GSL). The principal owner of PHI at the time of its creation was GSL, which itself was the property of the Government of Guyana and was under the control of the National Industrial and Commercial Investments Limited (NICIL). GSL then transferred 24 of what was described as “non-core properties” to PHI, the value of which was used to capitalize PHI. After the property had been transferred, the government then sold GSL. The sale of GSL removed it from the ownership of PHI. NICIL then became the majority shareholder with approximately 74 percent of the shares while other investors became the minority shareholders with about 26 percent of the shares. This relationship between the public and private sector makes this a public-private partnership.
Hinterland Electricity Incorporated
The Hinterland Electrification company Inc. (HECI) has its genesis in the Project Execution Unit (PEU) of the Office of the Prime Minister, Guyana. The PEU was established in 2004 to manage the implementation of the Government of Guyana (GoG)/InterAmerican Development Bank (IDB) sponsored Unserved Areas Electrification Programme (UAEP). The main objectives of the UEAP were (i) to expand existing coastal electricity grids to unserved areas within a feasible distance from the grids, and (ii) to examine ways in which hinterland areas could be provided with electricity in the most cost effective and sustainable manner. With regard to the latter, the PEU implemented several demonstration electricity projects in hinterland communities to test their viability for possible replication in other communities.
The UAEP ended in December 2010. Following its closure, the Prime Minister at the time, Mr. Samuel Hinds, with support from the Cabinet, decided to maintain the PEU to provide technical and other support to hinterland projects implemented under the UAEP. The unit was also expected to develop and implement new projects based on government’s development plan for the hinterland. Accordingly, the PEU was renamed Hinterland Electrification Unit (HEU), and it remained part of the Office of the Prime Minister. In January 2015, however, the HEU was incorporated (with the name Hinterland Electrification Company Inc.) as a subsidiary of National Inductrial and Commercial Investments Ltd. (NICIL) for holding of all satellite electricity companies owned by NICIL. The satellite companies are as follows:
- Linden Electricity Company Inc. (LECI)
- Kwakwani Utilities Inc. (KUI)
- Lethem Power Company Inc. (LMPC)
- Port Kaituma Power & Light Inc. (PKPL)
- Mahdia Power & Light Inc. (MPL)
- Matthew’s Ridge Power & Light Inc. (MRPL)
The HECI is now part of the Ministry of Public Infrastructure. The Minister of Public Infrastructure is Hon. Mr. David Patterson, and the Minister within the Ministry of Public Infrastructure is Hon. Ms. Annette Ferguson.
Guyana National Newspaper Limited
The Guyana National Newspapers Limited is a state owned company incorporated under the Companies Act, Chapter 89:01 of the Laws of Guyana and is situated at Lama Avenue, Bel Air Park, Georgetown, Guyana. It is the successor of the Guiana Graphic Limited, a private limited liability company registered in 1953, and the Daily Chronicle Newspapers. In December, 1975 the state-owned Guyana Chronicle was merged with the Guiana Graphic Limited to form the new company Guyana National Newspapers Limited.
The company’s operations are generally the printing and publishing of daily and weekly newspapers. Its main publications are the Guyana (Daily) Chronicle and the Sunday Chronicle. Other than printing and publishing of the Daily and Sunday Chronicle newspapers the Company also prints House Organs (newspapers for external agencies). These include the Green Beret, the Copper, the Hinterland Highlights, the Development Digest, GUYSUCO News etc.
Guyana National Cooperative Bank
In May, 1971, the Guyana National Co-operative Bank established a Trust Department to carry out the various Trust Services which was incorporated as the GNCB Trust Company Limited on the 28th December, 1971, a wholly owned subsidiary of the G.N.C.B., with its own Board of Directors.
On the 23rd February, 1977, the GNCB Trust Company was reconstituted and established as the GNCB Trust Corporation.
On the 3rd February, 1999, the GNCB Trust Corporation was incorporated under the Companies Act of Guyana into a public Company and is now known as the Hand in Hand Trust Corporation Inc.
Guyana National Printers Limited
Guyana National Printers Limited is a state owned company which was incorporated on 21st May 1967 and continued on 21st May 1997. It is involved in the business of printing and packaging. It has no subsidiaries. Any debts of the company are duly documented in the noes of the financial statements.
Guyana National Shipping Corporation Limited
The Guyana National Shipping Corporation was formerly a member of the Booker Group of Companies, trading under the name:- BOOKERS SHIPPING TRANSPORT AND WHARVES LIMITED. In 1951, the name was changed to BOOKERS SHIPPING (DEMERARA) LIMITED. On 26th May 1976, when the Guyana Government acquired the holdings of Booker McConnell & Co. Ltd. in Guyana, the entity was renamed “GUYANA NATIONAL SHIPPING CORPORATION LTD.”. The company traded successfully under this name for the last 42 years and now stands among the foremost Companies of its kind in the country. The Guyana National Shipping Corporation Limited renders Maritime Transportation services to all sectors of the economy. The Company’s major role in the shipping industry is the provision of related quality services to Shipowners, Operators, and other Customers, locally and internationally.
Guyana Oil Company Limited
The Guyana Oil Company Limited (GuyOil) was incorporated on 16 June 1976 when the assets of the West Indian Oil Company (Guyana) Limited and Anchor Trading Company Limited were acquired by the then Government of Guyana. The business office was originally located at its Providence Terminal, East Bank Demerara, with a staff compliment of approximately seventeen (17) persons including Clerical and Terminal Staff. In 1978, as a consequence of its growth, the Company moved its Head Office to rented facilities at 166 Waterloo Street, Georgetown. GuyOil is now housed in its owned Head Office (acquired 12 December 2013) at 191 Camp Street, South Cummingsburg, Georgetown.
The Company is wholly State owned with its shares held by the National Industrial Commercial & Investments Limited (N.I.C.I.L.). The business of GuyOil include the importation, storage and marketing of Gasoil, Gasoline, Kerosene, Heavy Fuel Oil, , Motor Accessories, CASTROL Lubricants, Bituminous Products and, through its wholly owned subsidiary, GuyOil Aviation Services Inc., Aviation Fuel for the international Airline Industry.
Atlantic Hotel Incorporated
National Communication Network
National Communications Network (NCN) is a national, state-owned television and radio broadcasting corporation in Guyana. It was formed in 2004 through the merger of the government radio service, Guyana Broadcasting Corporation (GBC), and the government-run television service, GTV.
Skeldon Energy Incorporated
Skeldon Energy Incorporated was created as a special purpose company to own, operate as an energy services business (independent power producer), and to acquire, stabilize, develop and expand the energy assets of GUYSUCO in the most efficient manner.
The Linden Mining Enterprise came into being in June 1992 when the Government signed an order under the Public Corporation Act to dissolve GUYMINE and convert the Berbice Operations and Linden operations into separate entities. Berbice Operations was reverted to the original name of Berbice Mining Enterprise Limited (BERMINE), and the Linden Operations was renamed Linden Mining Enterprise (LINMINE). LINMINE was placed under the management of an Australian firm – Mining and Processing Engineers – known as (MINPROC).