Chief Executive Officer (CEO) of the Guyana Office for Investment (Go-Invest) Owen Verwey has posited that energy cost among other factors contributed heavily to a decision by Baron Foods to make a US$5M investment in Trinidad rather than Guyana.
“Part of his operation is very energy intensive. In Guyana you are looking at somewhere between 22 and 28 cents per kwh where he is at in Trinidad you are looking at some 6 cents per Kwh. That’s a very big difference and one that is very difficult to compete with at this time hence government (here) looking at a (natural) gas to energy strategy,” Verwey said in response to questions on Monday on the issue.
Owner of the condiments and sauces producer, Ronald Ramjattan had told Stabroek News last week that he believes politics got in the way of his planned investment here.