The Neal and Massy Group of Companies has linked the expansion of its range of services in Guyana to the country’s “national growth horizons” and is geared to make interventions in key areas of the country’s economic expansion programme, according to Group Chief Executive Officer Deo Persaud.
In an exclusive interview with Stabroek Business earlier this week Persaud declared that part of Neal & Massy’s current focus was on monitoring the progress of Guyana’s oil exploration programme “in order to position the company to provide services that are related to the development of a petroleum industry here.“ Persaud told Stabroek Business that Neal and Massy is also monitoring progress in the development of an ethanol industry in Guyana as well as the completion of the Guyana/Brazil road and the creation of a deep water harbour. He said that he believed that each of these developments could provide opportunities for the company.
Neal and Massy, a Trinidad and Tobago– owned company, is currently celebrating the 40th anniversary of its operations in Guyana against the backdrop of what Persaud described as “a challenging but rewarding tenure”. He said that the company had served Guyana through difficult times and that apart from the rewards that it had secured, Neal and Massy was proud of the contribution that it had made to supporting critical areas of the economy.
The Neal and Massy Group is the single largest conglomerate in the Caribbean with interests in most of the English-speaking countries in the region. Referring to a possible role for Neal and Massy in Guyana’s much-anticipated oil exploration plans Persaud said that the conglomerate had the capacity to deliver critical services to the country’s oil search through one of its companies NM Energy which provides services for all levels of the oil industry from production to supply of products and services. NM Energy’s range of services include equipment maintenance and repairs and management and logistics support for the oil industry.
“The focus of our development as a business entity in Guyana lies in taking advantage of those opportunities that emerge from the economic direction in which the country is heading,” Persaud told Stabroek Business.
According to Persaud the Neal and Massy strategy of seeking to support Guyana’s growth horizons was reflected in the service it has provided to the country’s agricultural sector through the provision of services, equipment and machinery to the various agricultural communities across the country. He said that the linking of the company’s operating strategy to Guyana’s development pursuits was reflective of the vision “that lies at the heart of our approach to business.”
Meanwhile, Persaud told Stabroek Business that the company is also seeking to step up the level of its security services to the local business community through NM Security Solutions, another of the units within the local Neal and Massy Group. He declined to provide specifics of the proposed initiatives in the security sector but said that these would seek to take advantage of contemporary technology to bring a greater measure of security to the local business community.
Just over a month ago Neal and Massy commissioned its new $200m complex on the Essequibo coast and Persaud said that the new facility was indicative of the company’s commitment to enhancing both the quality and the level of its services in that region. Other projects executed by the company in keeping with the upgrading of its services include a $28m upgrading and expanding of the fleet of vehicles used by Associated Industries Ltd, (AINLIM), the installation of a $30m filling plant at the Demerara Oxygen Company (DOCOL) and the major refurbishment of one of its oxygen compressors.
Meanwhile, Persaud told Stabroek Business that part of the company’s focus during the 2009/2010 period will include continued emphasis on training. “On the one hand we recognize the critical importance of high competency levels among our employees. On the other we are aware that loss of skills through migration is one of the biggest problems facing the business community in Guyana. We therefore spend a significant portion of our budget on training at all levels of the company.” The Neal and Massy training regimen includes in-house training programmes in various disciplines as well as a management training programme for graduates of the University of Guyana. Persaud said that training also includes providing exposure for employees within the wider Neal and Massy Group.
