Guyanese couple, engineering firm from Spain to set up cassava processing plant

Guyanese couple Loida and Ian Nicholson, both directors of Kumasi, on Tuesday announced their partnership with Globaltec Desarrollos e Ingeniería, a prominent engineering firm from Spain with the intent of setting up a cassava processing plant in Guyana that can cost up to US$10 million.

Mrs Nicholson, a Guyanese born attorney who served as Assistant Attorney General in Connecticut, U.S.A, made the announcement during the hosting of the 2024 Guyana Energy Conference and Supply Chain Expo.

Excited at the opportunity to go forward with the execution of a Memorandum of Understanding (MoU) between Kumasi and Globaltec, Loida paused on Tuesday to recognise the role the Guyana Energy Conference played in establishing the partnership.

“The conference was the catalyst.

“It had such a great impact that I even invited colleagues from around the world to attend,” Mrs Nicholson said.

She clarified that herself and her husband, as Directors of Kumasi, were not investing in the project.

“We are partnering with Globaltec and we are going to be managing synergies. We are pretty much like a one stop shop, we identify investment opportunities and we bring the investors and then we manage things on the ground,” she explained.

The Kumasi Director noted love for agriculture but said the investment opportunities are not limited to that sector.

Mrs Nicholson, however, would not provide at this stage the location of the processing plant or the means through which the land was procured.

“The investor would prefer that it remain confidential at this time so I need to respect that but in due time we will be disclosing it,” she noted.

The project is expected to create over 100 jobs and seeks to empower Guyanese. It aligns with the national goals of economic diversification.

“This initiative marks a pivotal moment in Guyana’s agricultural and economic landscape, showcasing a commitment to sustainable development, community empowerment, and environmental stewardship.

“This venture marks a significant milestone in the country’s journey towards sustainable agricultural development and economic diversification, aligning with national goals to empower the local economy and foster job creation,” a press statement noted.