US$41.2M state-of-the-art food processing facility earmarked for Reg 3

– as local entrepreneur looks to take up ‘25 by 2025’ challenge

The Private Sector continues to respond positively to the ‘25 by 2025’ challenge first articulated by President Dr Irfaan Ali, with GUYIMEX International, a Private Sector player in the local agro-processing sector, announcing plans to build a US$41.2 million food production and storage facility.
The 25 by 2025 initiative calls for the Caribbean Community (Caricom) to slash food imports by 25 per cent by 2025.
The company has announced plans to build the multimillion-dollar food production and storage facility in Region Three (Essequibo Islands-West Demerara), with the first phase of the project expected to cost US$13.2 million and the second stage, US$28 million.
According to GUYIMEX Chief Executive Officer (CEO) Charles Sahadath, the facility will include advanced hydroponics that will produce food for local and regional markets. It will have the added benefits of helping to reduce food imports and meet growing market demand.
“We are ecstatic to embark on this project, which marks a significant milestone in our journey. Our team has been tirelessly working with our partners and investors to ensure that we are fully equipped to meet the growing demands of Guyana’s market,” Sahadath said in a statement from the company.

“This facility is a testament to our commitment to innovation and excellence in the food production industry. By building a hydroponic facility for local consumption and regional distribution, we aim to significantly reduce our imports, which aligns with ‘Caricom’s 25 by 2025’ initiative championed by His Excellency Dr Mohamed Irfaan Ali,” the CEO added.
There will also be advanced food storage solutions, ensuring the longevity of produce. The company will, meanwhile, be participating in the upcoming Caribbean Investment Forum (CIF), slated to last from July 10 to July 12 at the Arthur Chung Conference Center (ACCC). Its main thematic areas are sustainable agriculture, transition to a green economy, and digitalisation of business.
CIF, now in its third year, is an annual forum created by the Caribbean Export Development Agency (Caribbean Export) that draws global investors to the Caribbean and presents them with exciting, bankable investment opportunities from across the Region.
GUYIMEX’s interest in this massive agricultural investment comes on the heels of investment decisions from other Private Sector members, both local and international, in the agriculture sector. One of the most famous is the consortium that was formed in 2021 to pursue the cultivation of corn and soya.
This consortium includes Guyana Stockfeeds Limited, Edun Farms, and Bounty Farm Limited. Other investors are Royal Chicken, SBM Wood, Dubulay Ranch, and the Brazilian-owned N F Agriculture, who are cultivating over 1000 acres of soya bean in the Tacama Savannah.
The People’s Progressive Party/Civic (PPP/C) Government has played a crucial role in supporting the growth of the corn and soya bean industry, with a commitment of over $1.2 billion to infrastructural development in the Tacama area.
In 2022, the Government improved access to the area by constructing 40 kilometres of road, with the remaining seven kilometres scheduled to be completed this year. Additionally, the Government invested in a drying and storage facility for corn and soya bean, the first such facility in the country.
During Budget 2024, Finance Minister Dr Ashni Singh had announced that the Government planned to pump $97.6 billion into agriculture in 2024. This is on the back of a strong performance by the sector last year.
The sector recorded growth of seven per cent after the sum of $60.4 billion was spent therein for its stimulation and invigoration. The performance is attributed to increases across all sub-sectors; namely, other crops, rice, livestock, fishing, sugar, and forestry.
In delivering his budget presentation, the Finance Minister noted that huge investments would be made in the subsectors of sugar, rice, other crops, corn and soya, coconut, citrus, and spices; as well as agro-processing, livestock, fisheries and aquaculture. (G3)