The Malaysian-owned Barama Company Limited yesterday reported that it is well on the road to financial recovery and is preparing to get back into the lumber business with a $1 billion (US$5m) plan.
It was also announced that the company had rehired 80 persons it had laid off back in 2018 and managing director of the company Mohindra Chand said that the investments proposed over the period would see 140 more persons added.
“In the last eight months, we would have increased our output by 200 per cent, introduced a new superior product and started a reinvestment that would see hundreds of millions spent,” Chand said yesterday at the company’s 30th anniversary event, held at its East Bank Demerara, Land of Canaan headquarters and factory.