DDL to invest $10 billion in 3 years
Demerara Distillers Limited (DDL) has announced an investment programme worth G$10 billion over the next three years.
The company said the investments form part of its goals to increase its export earnings and to diversify its income base, “not only in alcohol but other things like food processing and other non-alcoholic beverages.”
The announcement was made by DDL Chairman Komal Samaroo on Wednesday during a tour of the company’s facilities by Prime Minister Moses Nagamootoo and Minister of Business Dominic Gaskin.
The company said the expansion programme includes some projects that have already started (such as a new storehouse for ageing rums), some projects that are ready to go (such as a new blending department and a new DSL warehouse), and some projects that are in various stages of the planning process.
“I am delighted to see that our local manufacturers are hard at work ensuring that out local products reach the global markets,” the Prime Minister was quoted in a company release as stating.
He added: “The expansion plans outlined by DDL today demonstrate the company’s continued confidence in our economy, as a government we will continue to support them and all manufacturers of local content.”
Minister Gaskin is also quoted as describing DDL as “one of the biggest value-added companies in Guyana and probably Guyana’s most successful value-added company.”
“The new DDL expansion programme includes some projects that have already started, some projects that are ready to go, and some projects that are in various stages of the planning process.
Projects that have already started include the new warehouse for storing ageing rums. Projects that are ready to go include the new blending department and the new DSL warehouse.