New vehicle parts manufacturing plant to be established in Guyana
-- As Indian company plugs US$1M into Guyanese businesses
A new manufacturing/ assembly plant that will focus on the engine cooling equipment for motor vehicles will be established in Guyana following an agreement inked between the The Guyana Manufacturing and Services Association (GMSA) and India’s NBR Cooling Systems Pvt Ltd. (NBR).
Through this agreement, which was signed in India on Thursday, the Indian company will inject some US$1 million into Guyanese businesses.
See full release from the GMSA:
The Guyana Manufacturing and Services Association (GMSA) and NBR Cooling Systems Pvt Ltd. (NBR), on Thursday 12, January 2023, signed a Memorandum of Understanding (MoU) upon the close of the Global Investors Summit in New Delhi, India.
Mr. Rafeek Khan – President of the GMSA, signed the MoU on behalf of the Association and Mr. 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 precipitated pronounced interest in the expansion of Indian private-sector investment in Guyana, for various industries.
NBR directors are in to radiator business from last 20 years and is a well-established manufacturer of a wide array of Engine Radiators, radiator cores intercooler and condenser, and engine Coolant . The Company is renowned for its high quality and standards and serves several industries such as automotive, generator and boring machines. With an aim to expand its business operations and grow from being the second largest market player in cooling systems in India, NBR selected Guyana to execute the same vision globally.
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 off 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, NBR committed to injecting an approximate sum of USD 1M. The framework for the business will incorporate: transfer of skills and technologies of manufacturing and assembling radiator condenser and charge air cooler from India to Guyana; manufacturing and production of radiator condenser and charge air cooler made from aluminium, copper and brass; assembling and exporting various radiator condensers and charge air coolers made from aluminium, copper and brass to all the countries in Latin America and United states of America; importing all the machinery and raw material required for manufacturing of radiator condenser and charge air cooler made from aluminium copper and brass.
Mr. 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.
Mr. 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”.