Several plots of GuySuCo’s lands at Wales, Diamond sold off

Dec 29, 2018 News

Several properties of the Guyana Sugar Corporation (GuySuCo) have been sold.
The properties, located mostly in the Wales estate area, with a few parcels in Diamond, East Bank Demerara, were divested last month.
The purchases were said to be part of the divestment exercise by Government to raise monies for the smaller-sized, three-estate GuySuCo, which is facing deep financial troubles.
According to the Official Gazette of Guyana, of December 29, 2018, at Diamond, East Bank Demerara, four properties were sold to Demerara Distillers Limited (DDL), the makers of El Dorado rums, by the National Industrial and Commercial Investments Limited (NICIL).
On November 15, NICIL sold DDL almost 12 acres, including four separate pieces of lands.
The lands are for DDL’s expansion programmes. They comprise 1.34 acres; five acres; five acres and 0.6 acres. They were once under the control of Diamond estate, part of GuySuCo.
However, it was closed years ago, under the People’s Progressive Party/Civic, with workers shifted to the East Demerara estates, and others laid off.
The administration buildings and a section of the estate were then sold to DDL, which expanded its operations from across the road to that location.

The Wales factory with the row of homes for staffers at right.

DDL recently signaled intentions to further expand and is currently building a huge storehouse for DSL, its distribution arm.
On the West Bank of Demerara, five properties, which were badly run down and once home to staffers of Wales estate, were sold. It will be recalled that in late 2016, Wales estate, said to be the worst performing of GuySuCo estates, was closed. Sections of the factory have been dismantled and taken for use at others.
Lot 7 of Plantation Wales, with buildings and erections, was sold to Deonarine Boodramall of Patentia Housing Scheme.
A Lombard Street businessman, Raymond Khalil, reportedly purchased two of the homes – Lot 1 and 2 at the same Plantation Wales area, according to the Gazette.
A Patentia Housing Scheme resident, Roopnarine Ramkishun purchased Lot 5, while Sasenaraine Shewnarain of Plantation Versailles, West Bank Demerara, acquired Lot 20.

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