Linden in Region Ten is set to benefit from the expansion of economic activities with the launching there of two subsidiaries of the CB Group of Companies.
A release from the Ministry of Finance on Saturday stated that Senior Minister with responsibility for finance in the Office of the President, Ashni Singh, on Friday joined proprietors Amar and Rory Chetram in cutting the ribbon to officially open the Linden Oxygen Company and Caribbean Concrete Limited, two of the five subsidiaries of the CB Group of Companies at the Caribbean Concrete Guyana Incorporated Complex, Track Waico in Amelia’s Ward, Linden, Region Ten.
The ceremony was also attended by Senior Minister and Minister of Housing and Urban Development for Dominica, Reginald Austrie; Guyana’s Minister of Housing and Water, Collin Croal; CEO of G-Invest, Dr Peter Ramsaroop; and Minister of Public Works Juan Edghill.
In his remarks, Singh commended the businessmen on behalf of President Irfaan Ali, on the sterling investment in Linden and for taking up the investment opportunities and encouraged them to expand their operations in the future. He also assured of government support for any economic venture that will provide skills and employment for persons countrywide in keeping with its economic diversification policy and skills enhancement plans.
The Senior Minister related that government is “particularly” pleased to see investors like the Chetram family responding to the investment incentives that have been put in place, by making a real investment in Linden, an investment, he pointed out that has already created jobs for the people of Region Ten. He added that the government is “firmly and unwaveringly” committed to doing all that it possibly can to improve the lives of all the people living in the Region. Singh took the opportunity to urge others to develop a similar entrepreneurial spirit and “grab the opportunities” to partner with the government to develop the Region and Guyana as a whole.
Edghill, who also spoke at the ceremony, lauded the businessmen for their achievement at expanding their businesses. He reminded those present that the Income Tax in Aid of Industry Act has been updated and that opportunities still exist for more investors to come on board. The Act provides tax incentives for new and emerging industries and is designed to support investors.
Meanwhile, Amar Chetram thanked the government for the tax incentives provided that allowed for his family’s business expansion.
He also expressed appreciation to the G-Invest CEO for his assistance each step of the way on behalf of the government which allowed for the expansion to quickly become a reality. He disclosed that the CB Group of Companies has been growing constantly and within the past eleven years has placed major focus on the two new ones, pumping over $400 million into their operations. It was noted as well that during housing construction, over 250 persons are usually employed with many being sub-contractors.
Meanwhile, according to the release, the ceremony allowed for the official handing over of the Linden Oxygen Company’s ISO Certification. The company has already installed delivery systems in five locations to allow for the provision of oxygen to 20 medical, commercial and industrial consumers. It also has the capacity to provide over 4,000 cylinders per month. With regard to the concrete facility, it is referred to as the first Concrete Batching Plant of its kind in the Region with the capacity to batch, deliver and pump over 500 cubic yards per day. The CB Group of Companies has also committed to training youths at the Linden Technical Institute (LTI) in oxygen installation and last evening handed over $1 million to Region Ten Chairman, Deron Adams, for the purchase of oxygen installation materials for the commencement of the training programme at LTI.
