On Tuesday 18th February, local company, Gaico clinched a joint venture with Fersan; the Dominican Republic’s biggest fertiliser producer and one of Guyana’s longest standing supplier to the agriculture sector, according to a release from Gaico.
The Joint Venture Agreement was signed by Komal Singh (CEO of Gaico) and Luis Viyella (CEO of Fersan). The event was attended by Luis Abinader President of the Dominican Republic along with other officials from the private sector bodies of Guyana and the Dominican Republic. The release said that the concept to bring fertiliser production to Guyana was sparked by the Gaico Chief Financial Officer, Chandini Singh, as she saw the need for something significant to quickly jumpstart the agriculture sector and support the efforts made by the government and industry leaders in bringing Guyana closer to food sustainability and growth.
“The initial MoU was signed in 2023 and now we are pleased to introduce Guyfer, a JV between Gaico and Fersan that will soon be able to blend fertiliser locally specific to the needs of each farm in Guyana and all our neighbouring countries within South America, the Caribbean and more.
This unique approach will allow further scientific farming in the agriculture industry with an intention of maximizing yield and valuable land as well”, the release said. One of the key priorities is also to partner with existing stakeholders, fostering a collaborative and inclusive approach to fertilizer supply in Guyana and in the region.
