NICIL puts Wales Estate land, machinery on the market

Sugar sector

As the carving up of the Guyana Sugar Corporation’s (GuySuCo) assets continue, the National Industrial and Commercial Investments Limited (NICIL) has put thousands of acres of land from Wales, as well as machinery from various estates, on the market.

In a notice from NICIL’s Special Purpose Unit (SPU), it was indicated that bids were being sought for the purchase of Lots one to 12 and Lots 14 straight to 31 of Plantation Wales, West Bank Demerara.
The land in question is situated along the Eastern and Western sides of the West Bank public road and bidders can vie for as many of the lots on sale as they want. Noting that they are not bound to accept the highest or any particular bid, the unit warned in their notice that tenders must be received by March 16, 2018.
GuySuCo is one of the largest landowners in Guyana, but is bogged down by billions of dollars in debt. The current Government has been engaged in divesting the Corporation’s assets, putting the SPU in charge of this process and procuring international consultant PriceWaterhouseCoopers (PWC) to valuate GuySuCo’s assets.

Scrap metal
In another notice, NICIL is inviting Expressions of Interest (EoI) for interested bidders to purchase scrap metal and equipment. Since the closure of the estates, there have been concerns about the maintenance of machinery worth millions within the factories.

The notice made it clear that bidders were only being sought to export the scrap metal and equipment from the Skeldon, Albion, Rose Hall, Blairmont, Enmore, Wales and Uitvlugt estates.
It also stressed that buyers would have to agree to purchase the items on an “as is, whereas” basis. This is a legal term, meaning NICIL absolves itself from any liability while buyers must agree to accept the equipment in whatever condition it is found, in order to conclude the sale.
“NICIL/SPU reserves the right to reject any or all EoIs without assigning any reason whatsoever and not necessarily to award to the highest EoI,” the notice says, adding that EoI’s must be submitted before March 9, 2018.
The scrap metal trade was banned under the previous Administration and this trend has continued up to today. The ban on the scrap metal trade came about following persistent complaints about vandalism. There were also issues regarding the management of the trade.
There have been intermissions, such as the three months reopening of the trade last year. It is, however, currently banned.
It was only last month, at the official launch of an association to advocate for the scrap metal trade and other exporters, that executives had been heavily critical of the continued ban on scrap metal and its turning a deaf ear to the plight of would be traders. The association had been explicit that the status quo of ‘Peter pay for all’ cannot continue.
Dozens of former traders were present at the launch of the Guyana Metal Dealers and General Exporters Association (GMD&GEA) at Regency Suites hotel. Professing to have voted for the coalition, President of the Association, Malek Cave, had complained that the current Administration was less willing to work with traders than the previous one.
Cave had made a number of recommendations for how the scrap metal trade could be safely opened; including annual licensing with a register of dealers. He had also urged that the policing of the sector be strengthened; as well as toughened penalties for infractions. Cave also stressed that the association would not give up its advocacy and its drive to bring the authorities to the negotiation table.
Opposition Member of Parliament, Juan Edghill, had declared his party’s support for a regularised industry. He had also revealed his party’s willingness to either bring a motion to the National Assembly or pose questions to the relevant Minister’s regarding their trade.