Head of the state holding company, NICIL, Radha Krishna Sharma, in response to queries from this newspaper over the termination of a deed of lease yesterday said he is not in position to comment on the matter.
In a written response to this newspaper, Sharma explained that the matter is engaging the attention of the court and therefore his agency is unable to respond. Also in his response, he informed that both his agency and the company’s position are stated in court documents.
National Industrial and Commercial Investments Limited (NICIL) last November served notice of the intention to terminate the deed of lease agreement with Guyana Initiative Against Climate Change (GIACC), a US-based Guyanese-funded investment, which aims at producing two types of fertilisers using renewable energy and raw materials of air and water.
The company, which occupies a 503-acre plot of land bordering Kara Kara Creek in Linden near the popular mined-out pond known locally as the Blue Lake, was last week served their final notice and given seven days to vacate the premises.
The termination was brought to light, via a press statement from the Linden Chamber of Industry, Commerce, and Development (LCICD) in which it voiced its disappointment at the treatment of the matter.
“NICIL’s decision is not only unreasonable, but it also represents an abuse of their fiduciary position as a government agency,” the Chamber was quoted as saying.
Stabroek News understands that following the 2019 notice from NICIL, the company through its US-based Director, Sharon Benjamin-Fauconier, had taken NICIL to court. The company received judgment in its favour, after which it moved ahead with its building application.
Benjamin-Fauconier in a brief comment on Wednesday to Stabroek News explained that subsequent to being granted judgment in her favour in late 2019, she proceeded to submit building plans for approval from the Central Housing and Planning Authority.
The building plans for one of the three proposed buildings was approved in November 2022, days after she received the letter with the intention to terminate from NICIL.
The developer stated that at present, the property has 187 solar panels and all the necessary infrastructure to harvest solar energy.
The Linden Chamber on Wednesday called on NICIL to reverse its decision and engage in meaningful dialogue with GIACC to address concerns that exist.
“As an organization that represents the interest of local businesses and investors, we strongly believe that NICIL’s decision is not only harmful to the economic development of the region but is also contrary to the principles of transparency, accountability, fair and equal opportunity to do business,” it asserted, while assuring that the Chamber stands in solidarity with the company.
Moreover, the LCICD called on the Private Sector Commission and all chambers of commerce in the country to stand against and condemn NICIL’s action.
The businesswoman stated that it remains her vision to develop a world-class facility which will give youths leaving school and university top-tier job opportunities in the field of science and technology.
The company back in 2017 started its process to acquire lands and was granted a lease agreement from the now- deceased NICIL head, Horace James. In the first instance, NICIL had dispatched a letter to rescind the lease from the company. At that time, Colvin Heath-London headed the agency.
