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03
May 20

NICIL transforming former sugarcane lands into productive rice fields

By Staff Reporter of Guyana Chronicle

 

Microbiologist and supervisor of the NICIL Rice Production at Wales, Haribhajan Persaud

MICROBIOLOGIST, Haribhajan Persaud, is part of a three-person team at the forefront of a vision by the National Industrial and Commercial Investment Limited (NICIL) to transform former sugarcane fields into a mega rice industry to boost the local sector.
The team’s efforts are beginning to yield rich rewards.

“We have passed the border line of production cost and we can only get better. The preparation for the first crop in 2020 has been completed. We will be planting in the coming days as we continue to see high returns from our crop,” Persaud explained.

He said they were only able to plant 401. 2 acres for their second crop last year because of some unforeseen challenges encountered. So far, this year their reaping has been encouraging.

“We only have 184. 3 acres remaining and we anticipate that we will continue to reap well from that,” the microbiologist said.
Preparations for this year’s first crop are on schedule and some 511 acres will be planted, despite challenges of converting historic sugarcane lands to rice fields.

“We recognise that we can grow rice here but …it cannot be achieved within one or two crops”, Persaud reasoned and added “because over hundreds of years, beginning with chattel slavery, the lands have accumulated a significant amount of iron which needs time to ‘dwindle’”.

When this is achieved “our rice production will be of great quality,” Persaud assured.
For their inaugural crop they planted 200.3 acres and this was hiked to 415.4 for the second crop. It was hiked to 482 acres for their third crop. The current crop dipped to 401.2, which they are currently still reaping. Persaud said their first for 2020 will be 510.8 acres with plans for a spike to 1000 acres later on.

“But there is still some more work that must be done before we can achieve this target,” Persaud admitted.
Several prominent Berbice rice farmers are eyeing participation in the NICIL vision and have put in requests for lands, since yields per acre from the farmlands, and after milling are very encouraging.

Persaud has been involved in research, production and marketing of the local staple and envisages a very bright future for the NICIL initiative.

 

Source: Guyana Chronicle

23
Apr 20

NICIL boss says GuySuCo divestment halted due to unstable political situation

FILE: NICIL Head, Colvin Heath-London in conversation with others at a previous event

Divestment of the Guyana Sugar Corporation (GuySuCo) remains on pause while Guyana’s political situation remains an unstable one.

National Industrial and Commercial Investments Limited’s (NICIL) has been seeking investors for the closed sugar estates and their assets, but acting Chief Executive Officer Colvin Heath-London said that for now, this is all on pause until political events are resolved.

“In terms of the divestment, we have several investors lined up. But they’re all not going forward until the political situation returns to some normalcy. So, it’s wait-and-see until then.”

He explained that this is the situation with all the estates being divested.

Zeroing in on one of those estates, this publication requested clarity on the status of Wales. In response, Heath-London said private farmers and some former sugar workers have taken up land at Wales for farming.

He also explained that Amazonia Expert Services Limited, the company granted a 20-year lease last year by the Government to cultivate and process coconuts, has started its preparations.

Since closure of the Wales, East Demerara, Rose Hall and Skeldon estates, and the firing of thousands of sugar workers, Government had moved to divest the facilities.

United Kingdom (UK) company PricewaterhouseCoopers (PwC), was contracted to carrying out valuations of GuySuCo’s assets up for sale, and had invited expressions of interest from potential buyers.

Initially, 10 expressions of interest were received, but only five companies eventually entered bids.

Extra Virgin Coconut Products (EVCP) and Amazonia Expert Services Incorporated (AESI) are the two companies which received 680 acres of land from the estate’s assets. However, just prior to elections in March of this year, former sugar workers were lamenting the fact that they were still waiting on the land grants that the APNU/AFC Administration had promised they would receive to continue their livelihood.

Many sugar workers, throughout this time, have vented their disappointment in the coalition Government for “neglecting” their woes and interests.

 

Source: https://www.inewsguyana.com/nicil-boss-says-guysuco-divestment-halted-due-to-unstable-political-situation/

01
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.

01
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.

PEACEFUL RESOLUTION
“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

28
Feb 20
Head of NICIL, Colvin Heath-London

NATIONAL Industrial and Commercial Investments Limited (NICIL) has been meeting with executives of the Russian aluminum giant, RUSAL, to discuss dividends owed by its subsidiary, Bauxite Company of Guyana Limited (BCGI), in which the Guyana Government has a 10 per cent share.

Minister of Finance, Winston Jordan, meanwhile, has criticised claims by RUSAL executives that the company has not been making a profit during the 15 years that it has been operating in Guyana.

Head of NICIL, Colvin Heath-London, said NICIL last met with the company last Thursday, and is expected to meet again next Wednesday as the discussions continue.
“We are now in discussions with RUSAL. I cannot elaborate on those discussions but you would know in due time what has materialised out of those discussions,” Heath-London said. Heath-London said that it was out of the consideration of the government’s shares in BCGI that prompted NICIL to, last week, pay the 326 Guyanese employees that were fired by the company their February salaries.

BCGI Executive, Vladimir Permyakov

“NICIL is a shareholder in [BCGI] and it is important that we ensure that while the discussions are going on that they [the workers] are looked after,” Heath-London related.
He said that the venture, which cost over $30M, was a one-off payment and not something that NICIL is looking to continue on a long term basis. The employees were fired on February 2, without notice by BCGI, which at the same time, suspended operations at its Kurubuka mines in Region 10.

The employees for one month now have been vigilantly maintaining a blockade across a section of the Berbice River which prevents the company from shipping any material or equipment from the mines. The employees have long since been convinced that the company is shutting down its operations entirely, and is attempting to ship as much as possible out of Guyana before doing so.

BCGI has not responded to an email for a response on the allegations.

Aside from NICIL, over the past year BCGI has come under investigations by the Department of Labour, for labour and union-related issues, as well as the Guyana Revenue Authority (GRA) which had been investigating the company for abuses of tax concessions.
The Ministry of Natural Resources and Guyana Geology and Mines Commission (GGMC) have also been looking into operations at the company as part of a wider assessment of the country’s entire bauxite industry.

Heath-London relayed that he is “not aware that RUSAL has been paying dividends, if there are dividends to be paid,” during the time he has been at NICIL, upholding statements made by BCGI Executive, Vladimir Permyakov, last year February, that BCGI had not been paying dividends to the government on its shares. At the time Permyakov had said that the company was not making any profit, notwithstanding operating in Guyana since 2006.
Minister of Finance, Winston Jordan, however says he does not buy those claims of no profit.

“That statement has always been made by a number of investors coming to Guyana. Some who have eventually left, they say ‘oh we’ve operated 15 years and we haven’t made a profit’. We don’t buy that nonsense. Profit seekers aren’t that giving, you won’t stick around 15 years and you aren’t making a profit,” Jordan stated. He noted however, that monies from the bauxite industry does not come under the remit of the Ministry of Finance as it is not paid over to the consolidated fund. Jordan acknowledged, however, that greater monitoring of the bauxite sector is needed to ensure that the companies are remitting to Guyana what is owed.

“When it comes to our own oversight and supervision, we haven’t been very great in that department. And partly being because of human resources issues,” he explained.
BCGI is one of three foreign-owned bauxite mining companies in Guyana that have been granted licenses to operate; the other two being the Chinese-owned Bosai Minerals Group (Guyana) Inc. in Linden and the newest company, Guyana Industrial Minerals (GINMIN), a subsidiary of American company, First Bauxite.

NICIL’s meetings with RUSAL comes months after Bosai was noted for remitting US$3M to NICIL on dividends owed.

 

Source: Guyana Chronicle

13
Feb 20

There will be the turning of the sod this afternoon to start the construction of a US$75M, 150-room hotel at Ogle, East Coast Demerara. The hotel to be named AC Marriott, will take 30 months to complete, with Trinidadian businessman, John Aboud, as the investor.

CEO of Trinuyana Investment Inc., John Aboud

The land would be in the vicinity of where the old headquarters of the Guyana Sugar Corporation (GuySuCo), at Ogle is located. It will also reportedly be close to where a bypass road linking the East Bank Demerara will be built.
According to an invitation from the National Industrial and Commercial Investments Limited (NICIL), Minister of Finance, Winston Jordan, will deliver the keynote address.
NICIL is the same state-owned company which built the US$51M, 197-room Marriott Hotel at Kingston. That has been filled to capacity as a result of the current oil activities in Guyana. The country has been seeking additional quality hotels.
AC Marriott is said to be a subsidiary of Marriott International.
According to NICIL, it recently signed an agreement with Trinuyana Investments Incorporated of Guyana to develop a “world class, iconic, select service, internationally branded Hotel – AC Marriott Hotel”.
NICIL said that the project is already underway with the commencement of geo-technical works.
“The construction of the hotel will bring additional rooms to add to the national hotel stock, which will (help) stimulate the local economy through additional employment opportunities and business development.”
NICIL said that Trinuyana Investments Incorporated intends to target business travellers to Guyana, especially those linked to Guyana’s nascent oil and gas sector.
The new hotel also wants to target ExxonMobil (Guyana) headquarters, which will be situated in proximity to the Eugene F. Correia International Airport, Ogle.

An artist’s impression of the façade of the AC Marriott Hotel planned for Ogle, East Coast Demerara.

“Trinuyana Investments Incorporated principals are confident that the proposed development will boost the existing architectural and landscape ambience of the Ogle area while providing a sustainable design approach, ensuring that the space remains a unique, iconic, Caribbean-wide destination.”
Also set to address the sod-turning will be Chief Executive Officer of NICIL, Colvin Heath-London.
According to NICIL, an initial 400-plus jobs will be created during construction, with some 200 permanent ones upon completion.
NICIL’s Privatization Specialist (Acting) Rachael Henry disclosed that the hotel will be constructed over four floors.
She disclosed that her agency and the CEO of Trinuyana Investment Inc (Guyana and Trinidad), John Aboud held lengthy discussions before arriving at the decision to construct the hotel.
Henry said that the hotel will have several amenities. Among them conference, office and some state-of-the-art living facilities, which he said would be integrated into the hotel complex.
“This is the culmination of negotiations that NICIL had with this company and the result is a major brand name hotel coming to Guyana so that all can benefit from it, as it certainly will boost our tourism and ultimately our country revenues,” Henry said
CEO of Trinuyana, John Aboud, according to the statement from NICIL, said that he is excited over the fact that the project will finally be rolled out, stressing that the work of NICIL was significant in ensuring that the hotel project becomes a reality.
He disclosed that he was very impressed with the manner in which NICIL and their team conducted the discussion, stressing that NICIL sought to secure the best possible deal for Guyana.
He disclosed that he was eyeing Guyana for a number of years, but about three years ago felt confident enough to move ahead with the project. He pointed out that while they don’t have major personnel on the ground as yet, he foresees this being a reality in early March, noting that they anticipate construction commencing in a few months.
Aboud, who NICIL said heads a major investment company in Trinidad and Tobago, pointed out that he fell in love with the numerous opportunities that exist here. He stated that Guyana is poised significantly to benefit significantly from what he dubbed as its rapidly growing tourism market.
“After visiting here a few times and seeing the numerous opportunities that exist, I decided to invest in buying some land, as I see that there is a need for such investment to further propel Guyana’s tourism,” Aboud said.
He said that the first-class hotel will cater for both business and tourism-related visitors.
He revealed that the first cost would be to the tune of US$75 million, stressing that another significant amount of money is expected to be pumped into the hotel as they seek to take it to the acceptable international standard.
Aboud further revealed that the hotel, which will contain 150 rooms, is a five-star hotel, noting that the new brand is one that is fresh and is the latest being managed by Marriott.
Meanwhile, Heath-London noted that the people can expect NICIL pursuing a number of opportunities that will yield significant revenues and benefits for the country.
He stressed that his team had engaged Trinuyana and is satisfied that their investment is ideal and most importantly, timely.
“We are very pleased with the investment that Mr. Aboud and team would be bringing to Guyana and are very confident that the government and people of Guyana will certainly benefit from this major hotel investment,” Heath-London stressed.

 

Source: Kaieteur News

13
Feb 20
CEO of Triniyuana Investment Inc., John Aboud

– NICIL, Trinidadian investor to turn sod today

THE National Industrial and Commercial Investments Limited (NICIL) and Trinuyana Investments Incorporated of Guyana will, today, turn the sod for a world-class, select service, internationally-branded Hotel – AC Marriott Hotel on the Ogle Airstrip Road.
NICIL signed the agreement with the firm headed by Trinidadian, John Aboud, recently, a release from NICIL said. The sod turning ceremony is expected to see Minister of Finance, Winston Jordan and CEO of NICIL, Colvin Heath-London, speaking at the event which is expected to provide an initial 400 plus jobs during construction and some 200 permanent jobs upon completion.

NICIL’s Privatisation Specialist, Racheal Henry, is quoted in the release as saying that the hotel that will be constructed is the AC Marriott, which is expected to have some 150 rooms and will be constructed over four floors. She disclosed that her agency and the CEO of Triniyuana Investment Inc. (Guyana and Trinidad), John Aboud, held lengthy discussions before arriving at the decision to construct the hotel. Henry said that the eagerly-anticipated hotel will have several amenities. Among the facilities are conference rooms, offices and some state-of-the-art living facilities, which he said would be integrated into the hotel complex. “This is the culmination of negotiations that NICIL had with this company and the result is a major brand-name hotel coming to Guyana so that all can benefit from it as it certainly will boost our tourism and ultimately our country’s revenues,” Henry is quoted as saying.

For his part, Aboud said that he is excited over the fact that the project will finally be rolled out, stressing that the work of NICIL was significant in ensuring that the hotel project becomes a reality. He disclosed that he was very impressed with the manner in how NICIL and their team conducted the discussion, stressing that NICIL sought to secure the best possible deal for Guyana. “The discussions were very lengthy and at times challenging but ultimately we understood as they wanted the best deal for Guyana and that is fine as every agency and or business wants what’s best for them,” he said.

He disclosed that he was eyeing Guyana for a number of years but about three years ago, he felt confident enough to move ahead with the project. He pointed out that while they don’t have major personnel on the ground as yet, he foresees this being a reality in early March, noting that they anticipate construction commencing in a few months.

Aboud, who heads a major investment company in Trinidad and Tobago, pointed out that he fell in love with the numerous opportunities that exists here. He stated that Guyana is poised to benefit significantly from what he dubbed as its rapidly-growing tourism market.
“After visiting here a few times and seeing the numerous opportunities that exists, I decided to invest in buying sone land as I see that there is a need for such investment to further propel Guyana’s tourism,” Aboud said.

He said that the first-class hotel will cater for both business and tourism-related visitors. He revealed that the first cost would be to the tune of US$75M, stressing that another significant amount of monies is expected to be pumped into the hotel as they seek to take it to the acceptable international standard. Aboud further revealed that the hotel, which will contain 150 rooms, is a five-star hotel, noting that the new brand is one that is fresh, and is the latest being managed by Marriott. He noted that the 150-room hotel will serve further in boosting the tourism agency development, especially around the Marriott hotel.

He added that the hotel site is a strategic location for the future, stressing that the hotel’s presence will further enhance and greatly boost the economic activity taking place at Ogle. He said that with regard to negotiations, there were several challenges but is very thankful as like them, NICIL wanted to secure the best possible deal for the Guyanese people.

“I had a lot of significant confidence in the investment opportunities that currently exists in Guyana and is determined to maximise those investment opportunities, thus we are seeing the reality of this hotel right now,” Aboud said.

Aboud went on to express excitement about the deal being wrapped up, stating that the relevant agencies responsible for a number of decisions are expected to make several decisions shortly, thus further helping to boost the planned construction of the hotel, which he said will help to enhance and market Guyana’s tourism product immensely.

Meanwhile, Heath-London congratulated John Aboud and team, noting that the people can expect NICIL pursuing a number of opportunities that will yield significant revenues and benefits for the country. He stressed that his team had engaged Triniyuana and is satisfied that their investment is ideal and most importantly timely. “We are very pleased with the investment that Mr. Aboud and team would be bringing to Guyana and are very confident that the government and people of Guyana will certainly benefit from this major hotel investment,” Heath-London stressed. The construction of the hotel is expected to take some 30 months.

 

Source: Guyana Chronicle

12
Feb 20

According to the NICIL statement, the new hotel is expected to provide an initial 400 plus jobs during construction and some 200 permanent jobs upon completion.

AC Marriott Hotel to be constructed at OgleThe Government’s holding company, NICIL today announced that a new AC Marriott Hotel will be constructed within the next 30 months at Ogle.

The hotel which will be known as the AC Marriott is being built at a cost of US$75million with additional costs to follow.

According to the NICIL statement, the new hotel is expected to provide an initial 400 plus jobs during construction and some 200 permanent jobs upon completion.

The hotel will have 150 rooms and will be constructed over four floors. The Triniyuana Investment company is behind the project.

Facilities will include conference rooms, offices and some state-of-the-art living facilities, which would be integrated into the hotel complex.

Finance Minister Winston Jordan has welcomed the investment. In an invited comment, Mr. Jordan said the investment “is another indication of the Government’s commitment to diversify the economy and to support the rapidly developing tourism sector consistent with the Government’s policy of not depending on oil. I am particularly pleased that this investment is sited outside of Georgetown in the emerging of business commerce and services in Ogle”.

He added that the investment also shows that the investment climate that the government has been cultivating has attracted the attention of foreign investors and is paying off.

The CEO of the Triniyuana Investment company was quoted as saying that the move to build the hotel is the culmination of negotiations that NICIL had with his company and the result is another major brand name hotel coming to Guyana.

The CEO John Aboud said that he is excited over the fact that the project will finally be rolled out, stressing that the work of NICIL was significant in ensuring that the hotel project becomes a reality.

“The discussions were very lengthy and at times challenging but ultimately we understood as they wanted the best deal for Guyana and that is fine as every agency and or business wants what’s best for them,” he said.

He disclosed that he was eyeing Guyana for a number of years but about three years ago felt confident enough to move ahead with the project. He pointed out that while they don’t have major personnel on the ground as yet, he foresees this being a reality in early March, noting that they anticipate construction commencing in a few months.

He said that the first-class hotel will cater for both business and tourism related visitors. He revealed that the first cost would be to the tune of US$75 million, stressing that another significant amount of monies is expected to be pump into the hotel as they seek to take it to the acceptable international standard.

Meanwhile, Chief Executive Officer acting of NICIL Colvin Heath-London said his team had engaged Triniyuana and is satisfied that their investment is ideal and timely.

“We are very pleased with the investment that Mr. Aboud and team would be bringing to Guyana and is very confident that the government and people of Guyana will certainly benefit from this major hotel investment,” Heath-London stressed.

The construction of the hotel is expected to take some 30 months.

 

Source: newssourcegy

Trinuyana Investments Incorporated of Guyana recently signed an Agreement with the National Industrial and Commercial Investments Limited (NICIL) to develop a world class, iconic, select service, internationally branded Hotel – AC Marriott Hotel.
 
The announcement was made today by NICIL via a press statement. NICIL said the project will cost US$75M.
 
The project is already underway with the commencement of Geotechnical works and the hotel will be completed in thirty (30) months.
 
“The construction of the hotel will bring additional rooms to add to the national hotel stock, which will (help) stimulate the local economy through additional employment opportunities and business development,” NICIL said.
 
These are expected to further augment the Government’s efforts to develop the tourism sector and expand the economy.
 
NICIL said Trinuyana Investments Incorporated will target business travelers to Guyana, especially those linked to Guyana’s nascent ‘Oil and Gas’ sector and the creation of Exxon Mobil (Guyana) Headquarters, which will be situated in proximity to the Eugene F. Correia International Airport.
 
NICIL further said Trinuyana Investments Incorporated principals are confident that the proposed development will boost the existing architectural and landscape ambiance of the Ogle area while providing a sustainable design approach, ensuring that the space remains a unique, iconic, Caribbean-Wide destination.
 
The sod-turning ceremony will be held tomorrow.
Source: inewsguyana
12
Feb 20

A section of the former sugar estate land at Ogle, East Coast Demerara, where the new 150-room Marriott hotel will be built.

A new five-star 150-room AC Marriott Hotel is scheduled for construction in Guyana this year, government’s National Industrial and Commercial Investments Limited (NICIL) announced on Wednesday.

“Trinuyana Investments Incorporated principals are confident that the proposed development will boost the existing architectural and landscape ambience of the Ogle area while providing a sustainable design approach, ensuring that the space remains a unique, iconic, Caribbean-Wide destination,” NICIL said.

ExxonMobil’s headquarters and two domestic airlines – TransGuyana and Jag’s Aviation/BK are building hangars and associated properties on land being controlled by Eugene F. Correia International Airport.

A sod turning event for the US$75-million project is scheduled for Thursday at a former sugar cane field at Ogle, East Coast Demerara, away from the flight-path of the Eugene F. Correia International Airport. The Ogle Estate is one of several East Demerara sugar estates that have been closed as part of the restructuring of the state-owned Guyana Sugar Corporation.

NICIL says the hotel is expected to begin construction in March and end in three years. The government holding company for state assets says 400 new jobs will be created during construction, and 200 permanent jobs after completion.

NICIL’s Privatization Specialist Racheal Henry said the AC Marriott Hotel is expected to have 150 rooms and more than four floors.

The CEO of Triniyuana Investment Inc (Guyana and Trinidad), John Aboud says that the hotel complex will integrate several amenities including conference rooms, offices and state-of-the-art living facilities.

Mr. Aboud says that the hotel site is a strategic location for the future stressing that the hotel’s presence will further enhance and greatly boost the economic activity taking place at Ogle.

NICIL Chief Executive Officer, Colvin Heath-London says Guyana can expect NICIL pursuing a number of opportunities that will yield significant revenues and benefits for the country.

The government-owned 197-room Marriott Hotel in Kingston, Georgetown, was built at a cost of US$51 million by Shanghai Construction Group.

 

Source: Demerara Waves

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