Latest update August 28th, 2026 10:26 AM
Latest News
- ‘Silence on Exxon audit reports is good for Guyana’ …as Govt. defends keeping nation in the dark
- ‘Don’t be fooled by Guyana’s 40% profit share’ …Ram warns bigger payouts still don’t make Exxon deal fair
- Cuban found dead under container at Muneshwers terminal
- Hundreds killed, over 1,000 missing after Himalayan flood
- Masked gunman storms gold miner’s home, escapes with $7.8M
NICIL sources high capacity transformer for Marriott Hotel
…says not bound to accept any or the lowest quotation
The National Industrial and Commercial Investment Limited (NICIL), the minority equity owner of the Georgetown Marriott Hotel currently under construction in Kingston, is looking to source a large transformer for the Hotel.
NICIL is currently running advertisements inviting quotations for the supply of one 2500KVA, 480V/60Hz, three-phase, 13.8 KV transformer.
According to the advertisement in the State-owned Guyana Chronicle, quotations must specify any applicable warranties and ability to meet a delivery schedule no later than the end of August.
Yesterday was the closing date for the submission of the quotation to NICIL’s Kingston office.
According to the advertisement, NICIL is not bound to accept any or the lowest quotation.
NICIL has been at the forefront of the controversial hotel project from its inception plugging some US$19.5M in the US$58M project only to wind up with minority ownership.
The project which is being built using a debt and equity structure sees NICIL loaning Atlantic Hotel Inc, a special purpose company created by NICIL’s Executive Director, Winston Brassington, and US$15.5 M while investing another
US$4M as equity.
ACE Square Investment Inc, a British Virgin Islands (BVI) registered company with Chinese owners have committed to investing US$8M for 67 per cent ownership of the project.
AHI which is owned by NICIL and the BVI registered company, has requested Republic Bank Trinidad to syndicate loans totaling US$27M.
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.