The information memorandum which could lead to the privatisation of the Enmore Sugar Estate is to be available from today.
According to an advertisement in yesterday’s Sunday Stabroek by the National Industrial and Commercial and Investments Limited (NICIL) and its Special Purpose Unit (SPU), the information memorandum will be available up to August 13th and will among other things contain the timeline for the bids, process of ranking and further details of assets for sale. NICIL/SPU can be contacted for the information memorandum on the payment of US$1,000 and the signing of a confidentiality agreement. The SPU can be contacted at spu@privatisation.gov.gy. The denoting of the payment in foreign currency will raise eyebrows.
Demerara Distillers Limited (DDL) is one of a number of companies interested in acquiring the Enmore estate. DDL is hoping to use the estate for the production of molasses which it was forced to import this year from Nicaragua because of the steep decline in sugar production by the Guyana Sugar Corporation (GuySuCo).