With the announcement that the Guyana Sugar Corporation (GuySuCo) will close down the Wales Sugar Estate on the West Demerara by 2017, Chief Executive Officer, Errol Hanoman yesterday stated that no other estate closure is planned.
He told Stabroek News that the Wales closure was not only due to the losses – in 2014 the Wales Estate operated at a loss of $1.8B – but also the amount of funding that would be required to bring the factory and the fields to a point of profitability.
Although he did not reveal the estimated funding that Wales would need, Hanoman said in 2016 mid-year maintenance would now allow for heavy investment to be made at the Uitvlugt sugar factory, also on the West Demerara. He said that