Guysons in US$60m joint venture for oilfield manufacturing

Guysons joint venture deal: President Irfaan Ali is fourth from right. Guysons founder Kads Khan is at right. (Ministry of Finance photo)

Local machining company Guysons has clinched a US$60m joint venture for oilfield manufacturing at Enmore that will see the GuySuCo sugar packaging plant being transformed into a fabrication facility.

While creating jobs the deal will also represent privatization of a key part of GuySuCo’s assets which had once been played up as a money spinner. The East Coast Demerara packaging plant had been built in 2011 at a cost of US$12m.

Following the acquisition of 55 acres of former Enmore Sugar Estate lands, Guysons entered into a US$60 million joint venture with the United States equipment manufacturer K&B Industries to transform the  packaging plant into a fabrication facility for the oil and gas industry.