On Friday September 30, 2011 a Memorandum of Understanding (MOU) was signed between the Government of the Co-operative Republic of Guyana and ANSA McAL Trading Limited, for the establishment of an Ethanol production project.
The MOU, which was signed by Dr Roger Luncheon, Head of the Presidential Secretariat; Mr Desmond Mohamed, Chief Executive Officer (former), Guyana Office for Investment and Mr Anthony N. Sabga III, Business Development Executive, ANSA McAL Group of Companies, was witnessed by the Honourable Robert M. Persaud, Minister of Agriculture (former) of the Republic of Guyana, Mr Aneal Maharaj, Group Finance Director, ANSA McAL and Ms Beverley Harper, Managing Director ANSA McAL Trading Guyana.
In conjunction with the Government of Guyana, ANSA McAL is currently conducting an in-depth feasibility study which includes infrastructure and development works; plant and equipment and rolling stock. This ethanol plant is projected to have a capacity to process up to 2,000,000 tons of sugarcane per year and produce up to 40 million gallons (nameplate capacity) of ethanol per year. This agro-energy industrial project will be built on 110,000 hectares of virgin land.
As a strategy for economic development, the Government of the Co-operative Republic of Guyana has adopted a policy to foster the development of economic activities in Guyana in an efficient, environmentally safe and sustainable manner. As a result, the Government of Guyana and a subsidiary of the ANSA McAL Group of Companies, a regional conglomerate, has agreed to partner to establish a world scale biofuel project.
It is expected that through the synergies between the Government of the Co-operative Republic of Guyana and the ANSA McAL Group, the people of Guyana will benefit through:
Generation of entrepreneurial service industries, resultant employment and wealth creation for nationals of Guyana
Opportunity for Guyana to become the regional leader in the development of regional policies, standards and frameworks for utilization of alternative fuels, with the potential of reducing the region’s dependence on fossil fuels
The proposed Ethanol Project will be well positioned to successfully become a low-cost, globally competitive provider of ethanol to international and regional markets.
February 22, 2012