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DDL launches $1B-plus warehouse -3mw solar farm for Diamond
The Demerara Distillers Limited Group is continuing to roll out investments in keeping with a US$50M modernization and expansion programme.
Yesterday, the beverage giant, which boasts over 1,200 staff members, launched a 42,000 square foot warehouse at Diamond, East Bank Demerara, for its subsidiary, Distributions Services Limited, announcing that it is readying also to commission a modernized blending plant later this year.
The commissioning of the warehouse is clear testimony of the high confidence in the economy, Finance Minister, Winston Jordan said.
He was among a number of dignitaries at the launching. Also there were Minister of Foreign Affairs and Prime Minister (acting), Carl Greenidge; Business Minister, Dominic Gaskin, and former Chairman of the DDL group, Dr. Yesu Persaud.
According to DSL’s General Manager, Bryan Prittipaul, the operations of the subsidiary started 25 years ago, becoming sole distributor of Johnson and Johnson, Nestle, Pepsico and Baron Foods.
Since then, the company has evolved with four Cash-and-Carry outlets, reaching 2,300 retailers with products.
DDL and Government officials at the commissioning yesterday.
However, the limited storage space has hampered growth.
The 42,000 square foot warehouse is located in the area acquired by DDL from the old Diamond sugar estate, where staffers’ homes were located. A few of those colonial homes are still standing.
According to Prittipaul, the warehouse will boast four cold rooms and chillers with four containers’ receiving docks, smart lighting and water faucets- all built by Nabi Construction Inc. for over $1B.
According to DDL’s chairman, Komal Samaroo, the project would represent a major step in diversification of the group.
He recalled when Prime Minister Moses Nagamootoo and Business Minister, Dominic Gaskin, visited the Diamond operations more than a year ago, it was announced that the group would be embarking on a US$50M expansion.
Already, a 30,000-barrel bond has been commissioned and a blending plant is slated for later this year.
There will be major expansion of the Demerara Shipping, a subsidiary and to Topco, its juice-making facilities.
According to Samaroo, DDL, makers of the world-renowned El Dorado rum line, is constantly seeking opportunities to diversify, with a young team of professionals on board.
Samaroo tagged the planned Diamond to Ogle roadway as key to its market expansion plans to the East Coast and Berbice.
Later, a three-megawatt solar farm is on the cards, he disclosed.
According to Jordan, who gave the feature speech and a message from President David Granger, the investment is a clear testimony of confidence in the climate of Guyana.
He said that the real growth rate will go up to between 3.6 -3.9 percent, up from the 3.4 percent given.
The investments will come in a world where the hostilities are increasing, and in which new anti-money laundering laws, and political instability are in the backdrop.
However, prudent management and low inflation from Government’s policies have helped.
He pointed to a recent mining forum in Canada where a packed room spoke of high interest in Guyana.
He lauded DDL for an increase in profits by 26 percent and noted that government will continue working on the reduction of taxes.
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