The Linden Utility Services Co-op Society Limited (LUSCSL) yesterday commissioned a $3.8 million Wood-Mizer sawmill to begin work on its concession at 28 Miles, Mabura Road, following warnings by the Guyana Forestry Commission (GFC) that it would be repossessed for lack of utilisation.
At a ceremony yesterday, LUSCSL Director Valarie Adams-Patterson said the purchase would allow the entity to maximise its returns as it anticipates a $10 million profit by the end of 2012.
She said the committee of management’s focus was on diversifying and maximising the society’s revenue stream and it invested in the sawmill given that it already owned the concession and based on the current high demand for logs and wood products.
A feasibility study was done, and it revealed that there was a high possibility of an allowable rate of harvest of approximately 58,671 BM of logs per month.
“We are looking to apply for additional land for expansion, which will see us drawing in more profit,” Adams-Patterson said.
LUSCSL Secretary Charles Sampson said the equipment should be seen as the next phase of the society’s forestry investment. He said it will go a far way in realising the society’s functions.
The forestry investment falls under the management of former regional chairman Mortimer Mingo. Addressing the gathering, he noted that the investment was a significant one, adding that the sawmill would be going into production next week.
The society is still to source additional permits from the Environmental Protection Agency, the sawmill licence from the GFC and tax exemption for the purchase of the Wood-Mizer equipment. The society is also expected to acquire a new tractor in a few days, to facilitate its forestry operation.
“Equally important to the society is the fact that these new operations present a unique opportunity that is expected to benefit every member,” Adams-Patterson said.
