CPSO applauds Belize, Guyana sugar refinery projects as strategic investments

– says will help reduce CARICOM food import bill

The CARICOM Private Sector Organization (CPSO) expressed its support for the sugar refinery invest-ments being made in Belize and Guyana by joint ventures involving Sucro Limited, Santander Sugar Limited, and GAICO Construction & General Services Inc, which will expand the regional supply of re-fined sugar within the CARICOM Single Market and Economy (CSME).
CARICOM currently sources a significant amount of refined sugar from extra-regional sources. Ac-cording to CPSO estimates, in 2024, the region imported just over USD 150 million in refined
sugar.
The Belize and Guyana sugar refinery investments will therefore add regional refining capacity and reduce the region’s dependence on external sources by allowing more of the region’s raw sugar to be processed within the community, it stated.
The Belize project, under Caribbean Sugar Refinery Limited, will be located within the Santander
complex in the Valley of Peace and is expected to commence operations before June 2026.
In Guyana, Demerara Sugar Refinery Inc, located at the former Wales Estate, will utilise proven
refinery assets and technology being relocated from Canada, alongside raw sugar produced by
Guyana Sugar Corporation (GuySuCo), to support a quick commencement of operations.
The CPSO commended President Dr Irfaan Ali, of Guyana, and John Briceño, Prime Minister of Belize, for their leadership and commitment in championing the refinery investment and for their support for the CARICOM sugar industry.
Noting that this policy commitment was publicly reaffirmed before the Belize National Assembly on February 2, 2026, the CPSO emphasised that the clear policy signal transmitted from the highest polit-ical level would further bolster private sector confidence to increase investments in the agri-food sec-tor and position CARICOM as a stable and secure market for regionally produced goods.
Dr Patrick Antoine, Chief Executive Officer and Technical Director of the CPSO, described the
refinery investments as strategic for the rebuilding of CARICOM’s sugarcane production capacity.

He noted that the projects are closely aligned with both the region’s agri-food policy and strategy.
under the 25 by 2025 plus 5 (2030) agenda and the Community’s Industrial Policy.
Dr Antoine further noted that the immediate priority must be to meet intra-regional demand with
regionally processed output. By securing the CARICOM market first, the CSME will provide the
opportunity for the refineries, supported by expanding sugar production, to achieve the scale and
competitiveness required for long-term sustainability.
He added that strong regional policy coordination will be essential to support investments of this
scale, making the point that “Private capital can only transform regional agriculture into agro-
industry, where market certainty and policy coherence exist across CARICOM. For these
investments to achieve their full regional impact, they must be supported by coordinated trade,
agriculture, and industrial policies.”
The refinery projects, together with expanded sugarcane production, represent a critical shift for
the Caribbean sugar and sweetener value chain. The expansion of regional refining capacity is
fully aligned with the Community’s objective of reducing the extra-regional food import bill and
deepening regional value chains under the 25 by 2025 plus 5 (2030) agenda.

CPSO
The CARICOM Private Sector Organization (CPSO) is the most recently accredited Associate Institution of the Caribbean Community. The CPSO is a “Service Organization” to mobilise and advance private sector participation in CARICOM, with a mandate to contribute to the full implementation of the CARICOM Single Market and Economy (CSME). The membership of the CPSO is comprised of private sector entities operating in the CARICOM space, including Micro, Small and Medium Sized Enterprises (MSMEs).