Investors from India, Ghana could seal deal for Rose Hall estate in July
The Special Purpose Unit (SPU) set up to manage the sale of three sugar estates shut down by the Government are hoping to secure a deal for the Rose Hall estate by the end of July, head of the SPU Colvin Heath-London said Monday.
The investment consortium, which includes expertise from Guyana, is from India and Ghana. They are interested in producing sugar, inputs for cosmetics and liquid sugar, said Wilfred Baghaloo, a partner with PricewaterhouseCoopers, which has been hired to secure investments for the sugar properties at Skeldon and Enmore as well.
The three factories were closed at the end of 2017 as part of the Government’s plans to consolidate the sugar industry.
Lands previously used for sugar cane cultivate by the Wales estate, which was also closed, have been leased to a number of local and international investors for rice cultivation and other activities. Heath-London said the international investors include those from Trinidad, Barbados, the Netherlands and the United Kingdom.
Banks DIH is one of the local companies that will acquire some lands, and Heath-London said the lands could also be ideal for dairy cattle for DDL, which intends to go into milk production.