Local company GAICO has teamed up with FERSAN of the Dominican Republic to set up a US$12 million fertilizer blending plant by the end of 2024 on the West Bank Demerara.
The two companies recently signed a Memorandum of Understanding (MOU) in the Dominican Republic to pave way for the construction of the facility. FERSAN is the leading company in the agroindustrial sector in the Dominican Republic and is dedicated to the manufacture of fertilizer lines.
“The establishment of this state-of-the-art Fertilizer Blending Plant is not merely a testament to our commitment to innovation, but also a beacon of hope for our agricultural future,” said Chandini Singh, Director of GAICO.
“It’s an initiative that will drive scientific advancements in farming, boost our nation’s agricultural prowess, and position Guyana as a leader in sustainable agriculture within the region.”
Representatives of the companies have met with President Irfaan Ali on the project.
“For decades, Guyana has stood as a prominent agricultural state with the potential for tremendous growth.
“This new initiative promises to not only enhance the agricultural sector but also introduce a more scientific and reliable approach to farming,” GAICO stated in a release.
It added: “Beyond the immediate benefits, it will bolster Guyana’s expertise in this domain, equipping our workforce with incredibly valuable skills. Concurrently, it positions the nation to capitalize on export opportunities within the agricultural sector.”
The plant is being set up close to the upcoming gas-to-energy power plant.
