The Chief Executive Officer (CEO) of GuySuCo Sasenarine Singh yesterday announced that on Monday, the Government of Guyana released $3 billion to the sugar corporation and is adamant that the entity can be turned around.
During a visit to the Blairmont estate, the CEO informed that $2.2 billion will be used to reopen the three estates, while the remainder will go towards “recapitalizing the current estates.”
According to Singh, GuySuCo is presently in the process of building a business turnaround plan, and as such, they have recently selected two consultants to work in the office of the CEO to ensure that GuySuCo has a five- year turnaround plan “which will give us different options on what is the most efficient way to do sugar going forward.”