GMSA signs MoU with engine cooling systems’ manufacturer in India

– as GCCI inks another with FICCI to promote bilateral trade, investment

As the local private sector seeks to capitalise on opportunities for collaboration with Indian stakeholders, the Guyana Manufacturing and Services Association (GMSA) has inked a Memorandum of Understanding (MoU) for the establishment of a manufacturing plant to produce engine cooling systems in Guyana.
The agreement was signed on Thursday upon the close of the Global Investors Summit in New Delhi, India, by GMSA President Rafeek Khan and Director of NBR Cooling Systems Pvt Ltd (NBR) Aarif Hussain. Also present at the signing were GMSA Board Members, Rosh Khan and Shyam Nokta.
The Investment Summit has precipitated pronounced interest in the expansion of Indian private investment in Guyana for various industries.
NBR directors have been in the radiator business for the last 20 years and their company is a well-established manufacturer of a wide array of engine radiators, radiator cores intercoolers and condensers, and engine coolant.
The company is renowned for its high quality and standards and serves several industries such as automotive, generator, and boring machines. With an aim to expand its business operations and grow from being the second largest market player in cooling systems in India, NBR selected Guyana to execute the same vision globally.

As part of the MoU, the GMSA will identify and engage Guyanese companies or form consortiums to establish a manufacturing/assembly plant in the engine cooling (automotive) sector. The company will leverage NBR’s technological advancement, full range of high-quality raw materials and components, market resources, and access to international compliance codes and practices.
During the initial stages of establishment, NBR committed to injecting an approximate sum of US$1 million.
The framework for the business will incorporate: the transfer of skills and technologies of manufacturing and assembling radiator condensers and charge air coolers from India to Guyana; manufacturing and production of radiator condenser and charge air coolers made from aluminium, copper, and brass; assembling and exporting various radiator condensers and charge air coolers made from aluminium, copper, and brass to all the countries in Latin America, and the United States of America; importing all the machinery and raw material required for manufacturing of radiator condenser and charge air cooler made from aluminium, copper and brass.
According to GMSA’s Rafeek Khan, “This collaboration will perhaps introduce a new industry or strengthen the automotive cooling sector in Guyana and the Caribbean Region. I anticipate we would see this value-added automotive component company establishing a factory this year. The company currently produces approximately 1200 radiators per day.”
Hussain from NBR also commented that, “This MoU marks a landmark collaboration and will provide new growth avenues for NBR in the South American Region. Since incorporating NBR, the company has attained such remarkable progress and is now pleased to expand its international manufacturing plan in collaboration with GMSA”.
Meanwhile, officials from the Georgetown Chamber of Commerce and Industry (GCCI) also inked an MoU with the Federation of Indian Chambers of Commerce and Industry (FICCI) on Thursday to foster cooperation and understanding to promote bilateral trade and investment as well as business relations between India and Guyana.
The MoU was signed by GCCI’s Councillor, Dr Rosh Khan, acting on behalf of the Council of the Chamber, and Deputy Secretary of FICCI, Manish Singhal, on the sidelines of a business forum held by Invest India at the Oberoi Hotel.
Under the MoU, interested companies in both countries will be able to develop and diversify their commercial exchanges and economic cooperation. Also stipulated in the MoU is that all parties involved will identify opportunities to promote trade and economic alliance.
In the anticipated collaboration, information and publications from both countries will be exchanged regularly regarding foreign trade, production, and export (for both countries). The parties will discuss the possibilities of cooperation regarding the products and services of both organisations, as well as the organisation of fairs/exhibitions and the exchange of commercial, industrial, and other trade sector delegations in India and Guyana.
The Federation of Indian Chambers of Commerce & Industry is a non-governmental trade association and advocacy group based in India and the voice of India’s business industry. The signing of this MoU builds on the existing bilateral commercial relation which exists between Guyana and India. The GCCI will continue to act as a catalyst for private sector growth and enhanced trade relations for Guyana.
Also present at that signing were the Chairman of Guyana’s Private Sector Commission (PSC) Paul Cheong; Guyana’s Chief Investment Officer at GO-Invest, Dr Peter Ramsaroop, and other officials from GCCI.
These private sector representatives are part of a delegation led by President Dr Irfaan Ali, who is conducting an official visit to India. The delegation comprises Government officials and other members of Guyana’s private sector.