Indian investors, experts eye Skeldon Estate after analysing GuySuCo’s assets

– to submit report on findings, potential investments

A team of investors and experts in the sugar manufacturing sector from India are looking at the possibility of investing in the revitalisation of the Skeldon Sugar Estate in Region Six (East Berbice-Corentyne).
This is after the group, comprising representatives from various companies, visited Guyana last week, during which they conducted an independent assessment of the Guyana Sugar Corporation’s (GuySuCo) main assets.
On Saturday, the Indian investors and experts met with President Dr Irfaan Ali at the State House in Georgetown. Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh; Minister of Agriculture, Zulfikar Mustapha; CEO of GuySuCo, Paul Cheong and other Government officials were also part of the meeting.
According to a post on his official Facebook page, President Ali was provided with an update on identified gaps, rehabilitation requirements and a number of recommendations for intervention during the meeting.
“The team is expected to submit an official report to the Government within the coming weeks, identifying options for investments in key factory locations,” the post added.
A senior official familiar with the exploratory visit told the Guyana Times that the group is exploring investment in the Skeldon Estate.

Three-day visit
The visiting team represented India-based companies that specialise in sugar production as well as the manufacturing of sugar factory parts. They also operate sugar factories outside of India, including in countries within Africa.
During their three-day visit last week, the group of experts and investors toured three of Guyana’s four operating sugar estates – Albion Estate, Rose Hall Estate and Uitvlugt Estate – along with the closed Skeldon factory.
“They want to invest in Skeldon, and they also looked at assisting with parts for the other factories because we use very old equipment that are no longer being manufactured, so that’s something that they’re looking at too. And they’re also advising us on how to enhance [sugar] operations,” the senior official indicated to this newspaper.
Meanwhile, among the Indian companies represented as part of the group was Terra Vista Solutions Pvt Ltd. According to its website, Terra Vista Solutions said it delivers innovative cogeneration and biomass combustion systems, offering end-to-end, sustainable energy solutions.
Only two weeks ago, President Ali had revealed that a technical team from India would be examining the proposed reopening of the Skeldon Estate, with the aim of producing 37,000 tonnes of sugar by 2030.

Improving the industry
Speaking during a press conference held as part of his two-day Cabinet outreach to Region Six just last month, the Head of State spoke about a number of measures that the Government will be implementing to improve the sugar industry as well as the wider agriculture industry.
“We are going to continue to invest, but we have to get the returns of our investment,” President Ali asserted, noting that the sugar industry remains a critical pillar of the Region Six economy.
He said that increasing production at the Albion and Rose Hall Estates is a priority, while the planned revival of Skeldon will integrate private farmers and introduce higher levels of modernisation and mechanisation across the industry.
According to the President, GuySuCo is targeting 100 per cent field mechanisation by 2030, complemented by the deployment of quality spectral imaging drones to enhance crop monitoring and decision-making.
He also revealed that a local foreign joint venture has already submitted a proposal for the establishment of a sugar refinery as part of a wider push toward value addition within the industry.
Ali stressed that improved management will be central to these reforms. A performance matrix for GuySuCo managers is expected to be implemented next year, with non-performing officials to be removed.
“The Panday syndrome in GuySuCo must be removed,” he said, describing the term as symbolic of mismanagement that has long hindered the sector.
The Skeldon Estate was one of the four estates across the country that were shut down by the previous A Partnership for National Unity/Alliance For Change (APNU/AFC) Administration, forcing thousands of sugar workers on the breadline.
Since returning to office in 2020, the Ali-led People’s Progressive Party/Civic (PPP/C) Government has been looking, in a more studied way, at ways to reopen the estates and diversify the operations with the introduction of new industries at those factories that are not feasible for reopening to produce sugar.
Previously, Vice President Dr Bharrat Jagdeo had reported that Government had received proposals for the generation of power from the co-generation plant at the Skeldon Estate.
The Skeldon Co-Generation Plant – which has the capacity to produce 30 megawatts of electricity using bagasse from the sugar process – was designed to produce excess power that would be exported to the national grid. However, the plant is no longer working as a cogeneration system, given the closure of the sugar factory.