Latest update December 12th, 2024 1:00 AM
GMSA signs MoU with Indian Engine Cooling Systems Manufacturing Firm
Kaieteur News – The Guyana Manufacturing and Services Association (GMSA) and NBR Cooling Systems Pvt Ltd. (NBR), on Thursday signed a Memorandum of Understanding (MoU) upon the close of the Global Investors Summit in New Delhi, India.
The agreement was signed by President of the GMSA, Rafeek Khan, and Asrif Hussain, Director of NBR. Two GMSA board members, Rosh Khan and Shyam Nokta were present for the signing.
In a statement to the media, the GMSA said that the Investment Summit has precipitated pronounced interest in the expansion of Indian private-sector investment in Guyana, for various industries.
The Association said that NBR directors are involved in the radiator business for about 20 years and “is a well-established manufacturer of a wide array of Engine Radiators, radiator cores intercooler and condenser, and engine Coolant.”
“The Company is renowned for its high quality and standards and serves several industries such as automotive, generator and boring machines. With an aim to expand its business operations and grow from being the second largest market player in cooling systems in India, NBR selected Guyana to execute the same vision globally,” the statement said.
The Guyana Manufacturing and Services Association (GMSA) and NBR Cooling Systems Pvt Ltd. (NBR), signed a Memorandum of Understanding (MoU) upon the close of the Global Investors Summit in New Delhi, India. President of the GMSA, Rafeek Khan and Asrif Hussain, Director of NBR signed the agreement. Two GMSA board members, Rosh Khan and Shyam Nokta, were present for the signing.
Meanwhile, as part of the MoU, the GMSA said it will identify and engage Guyanese companies or form consortiums to establish a manufacturing/assembly plant in the Engine Cooling (Automotive) Sector. The company will leverage off NBR’s technological advancement, full range of high-quality raw materials and components, market resources and access to international compliance codes and practices.
“During the initial stages of establishment, NBR committed to injecting an approximate sum of USD 1M. The framework for the business will incorporate: transfer of skills and technologies of manufacturing and assembling radiator condenser and charge air cooler from India to Guyana, manufacturing and production of radiator condenser and charge air cooler made from aluminum, copper and brass, assembling and exporting various radiator condensers and charge air coolers made from aluminum, copper and brass to all the countries in Latin America and United states of America, importing all the machinery and raw material required for manufacturing of radiator condenser and charge air cooler made from aluminum copper and brass.”
President of the GMSA said that the collaboration with NBR will introduce a new industry or strengthen the automotive cooling sector in Guyana and the Caribbean.
“I anticipate we would see this value-added automotive component company establishing a factory this year. The company currently produces approximately 1200 radiators per day,” he said.
Meanwhile, the NBR Director described the signing of the MoU as a landmark collaboration that will “provide new growth avenues for NBR in South American region.”
“Since incorporating NBR, the Company has attained such remarkable progress and is now pleased to expand its international manufacturing plan in collaboration with GMSA,” Hussain said.
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