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Jagdeo’s Latest secret deal …Legislation to mandate ethanol/gasoline blend in pipeline

Feb 26, 2012 News

 

 

…as Ansa McAl eyes energy/fuel market

With one regional conglomerate looking to invest millions of dollars in Guyana to establish an ethanol plant the question of legislation mandating an ethanol/gasoline blend has again surfaced. Such legislative action was confirmed by Agriculture Minister Dr. Leslie Ramsammy.
This publication posed the question to the Agriculture Minister as it relates to such legislation being in the pipeline.
Dr. Ramsammy said that it has been on the table for some time and that “we expect greater attention will be given to this subject in this Government.”
If established, Ansa McAl Group of companies will have one of the largest ethanol plants capable of exporting to regional and international markets.
Ansa McAl’s Country Managing Director, Beverly Harper, confirmed yesterday that the ethanol that the company is looking to produce is strictly for the energy/fuel market and would not be used as a base for any sort of rum production.
According to the company, “the proposed Ethanol Project will be well positioned to successfully become a low-cost, globally competitive provider of ethanol to international and regional markets.”
Ansa McAl is currently conducting an in-depth feasibility study which includes infrastructure and development works, plant and equipment and rolling stock.
The ethanol plant is projected to have a capacity to process up to two million tons of sugarcane per year and produce up to 40 million gallons (nameplate capacity) of ethanol per year.
The agro-energy industrial project will be built on 110,000 hectares of virgin land located in Canje, Berbice.
Ansa McAl Limited is a diversified Public Conglomerate. Listed on the Trinidad and Tobago Stock Exchange (TTSE: AMCL), it is one of the largest local conglomerates with an asset base of over TT$10.9 Billion as at December 31, 2010.
To date, its business operations span the manufacturing, brewing, insurance, finance, real estate, media, shipping, trading/ distribution, automotive and industrial equipment retailing sectors.
The Ansa McAl subsidiaries’ operate in the Caribbean including Trinidad and Tobago, Barbados, St. Kitts and Nevis, St. Lucia, Guyana, Grenada and the USA.
Ansa McAl has a workforce of approximately 6,000 and generates annual consolidated operating revenues of approximately TT$5Billion.
To date the Guyana Government has made no formal announcements despite days of media reports on the deal between Government and Ansa McAl.

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