Guysons K&B Industries announces $7 Billion investment in new Enmore facility

The location which housed one of the sugar packaging plants for Guysuco will be transformed to a new facility over the next five years and during that period, more than 500 jobs will be created for residents of the community.

Guysons K&B Industries announces $7 Billion investment in new Enmore facility

Local Company, Guysons Engineering, and K&B Industries Incorporated of the United States have announced their joint venture and the birth of the new company Guysons K&B which has acquired 50 acres of land from the Government at Enmore for the construction of a machine shop facility that will cater for a number of sectors including the oil and gas sector. The investment adds up to more than $7 Billion.

The location which housed one of the sugar packaging plants for Guysuco will be transformed to a new facility over the next five years and during that period, more than 500 jobs will be created for residents of the community.

At the announcement of the initiative this morning on the outskirts of the Energy Conference, President Irfaan Ali applauded the move by the two companies and said while it does not focus directly on the oil and gas sector, he hopes to see it develop in the coming years.

‘This is not only about the oil and gas sector; we have made it very clear that Guyana must become the hub for fabrication of machines and services for this region. The Region has a huge yachting industry, cruise ships come here all the time we have to start getting into that market. What oil and gas does it give us the accelerated momentum to get there”

President Ali said he believes it all fits into the efforts to diversify the economy.

“This year, you will see investments in every single sector; agriculture, health, education, tourism, manufacturing, every single sector you will see announcement and work commencement. And then to support this is the massive investment Government is making on the capital side to capitalize on the growth and to open up opportunities so that we can have the creation of more jobs”

Supporting this notion, Senior Minister with the responsibility for Finance Dr. Ashni Singh said that a lot of work has to be done to fix the economy and such initiatives will be replicated as time goes by.

“it’s a good example of what can be achieved true to the spirit of the local content framework that we have established leveling local and domestic expertise and capital and also mobilizing international expertise and partnerships such of what is found in K&B. So, this partnership is what we would like to see multiple and replicated many times over”

Representatives of the two companies said they are committed to serving Guyana and its many communities.

“Through our partnership with Guysons, we are now committed to supporting Guyana’s growing energy sector for decades to come. To be successful, we plan to invest in the community and more specifically in the Guyanese people”, one official said.

Construction of the head facility is expected to start soon in the community of Enmore on the East Coast of Demerara.

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