The Guyana Manufacturing and Services Association (GMSA) and NBR Cooling Systems Pvt Ltd. (NBR) on Thursday signed a Memorandum of Understanding (MoU) which aims at the establishment of a manufacturing/assembly plant here.
The signing came upon the close of the Global Investors Summit in New Delhi, India.
Rafeek Khan – President of the GMSA, signed the MoU on behalf of the Association and Aarif Hussain – Director of NBR, signed on behalf of NBR. Also present from the GMSA were board members Rosh Khan and Shyam Nokta. The Investment Summit has seen interest in the expansion of Indian private-sector investment in Guyana, for various industries, a release from the GMSA said.
NBR has been in the radiator business for the last 20 years and is the manufacturer of a wide array of Engine Radiators, radiator cores intercooler and condensers, and engine Coolant.
As part of the MoU, the GMSA will identify and engage Guyanese companies or form consortiums to establish a manufacturing/assembly plant in the Engine Cooling (Automotive) Sector. The company will leverage NBR’s technological advancement, full range of high-quality raw materials and components, market resources and access to international compliance codes and practices.
During the initial stages of establishment, the release said that NBR committed to injecting an approximate sum of US$1M. The framework for the business relationship will incorporate: transfer of skills and technologies and assembly and exporting of various parts to Latin America and the United States of America.
It would also cover the importing of all the machinery and raw material required for manufacturing of parts.
Rafeek Khan remarked, “This collaboration will perhaps introduce a new industry or strengthening of the automotive cooling sector in Guyana and Caribbean region. I anticipate we would see this value-added automotive component company establishing a factory this year”. The company currently produces approximately 1200 radiators per day.
Hussain added, “This MoU marks a landmark collaboration and will provide new growth avenues for NBR in South American region. Since incorporating NBR, the Company has attained such remarkable progress and is now pleased to expand its international manufacturing plan in collaboration with GMSA”.
