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Banks DIH opens $13.7B beer plant
Banks DIH on Sunday unveiled a $13.7 billion beer plant, increasing its capacity to produce some 400,000 cases, brew and bottle 800,000 cases, and store 900,000 cases each month.
The plant was officially opened by President Irfaan Ali at the company’s East Bank Demerara location. The president said Guyana is entering a decisive phase of industrial and manufacturing growth, noting that local production must expand to meet the rising demand driven by a fast-growing economy.
President Irfaan Ali (right) and Chairman of Banks DIH, Clifford Reis unveiled the plaque for the beer plant. (DPI)
The new beer plant, will produce some 400,000 cases, brew and bottle 800,000 cases, and store 900,000 cases each month. (DPI)
As Guyana’s economy continues to expand, the Guyanese leader said higher incomes and increased spending will significantly raise demand for food, beverages and consumer goods. The country now faces a clear choice.
“The question before us is simple but profound. Who will meet that demand? Will we rely increasingly on imports, or will we see expanded local production?” he questioned.
High energy costs have historically constrained industrial expansion and reduced competitiveness, discouraging investment in manufacturing, but that is about to change with the landmark Gas to Energy (GTE) project being developed in Wales, Region Three. This massive project is on track for a year-end completion.
With lower energy costs, President Ali reasoned that the local manufacturing would become more viable, allowing both new industries and existing companies to expand. That is why he underscored that the period between now and later this year is critical.
President Irfaan Ali. (DPI)
As such, he said “Companies must prepare. They must plan. They must position themselves for this new era. They must begin to produce more food, more beverages, more consumer goods, not only for local demand, but for export.”
Using Banks DIH as an example, the head of state said established Guyanese companies have a vital role to play in shaping the country’s manufacturing future.
“The example of Banks DIH shows us what is possible. It shows that Guyanese brands can achieve international recognition, that quality made here can stand confidently on shelves abroad.”
Chairman of Banks DIH, Clifford Reis. (DPI)
He said legacy companies bring experience, strong brands and financial capacity, placing them in a better position to invest over the long term and manage large-scale industrial projects.
That is why the government has engaged large companies to work with them on the Guyana Development Bank to empower small businesses with financial literacy and other empowerment programmes.
“The future of manufacturing in Guyana will therefore not be built from scratch. It will and must be built on the foundations laid by these established enterprises,” the president asserted.
Chairman of Banks DIH, Clifford Reis said the project was accomplished in phases. The beer bottling plant is the fourth phase in the company’s expansion plans.
Looking ahead, Reis said the company will begin installing a new canning line with work scheduled to commence on January 12.
According to him, the new line will produce 17,000 cans per hour and is expected to be commissioned in the first half of the financial year. When operational, it will have the capacity to produce 950,000 cans per month, including products such as Banks Beer, GT Beer, Guinness, Coca-Cola,
He commended the president for his guidance and encouragement in the initial phases of the project, which he affirmed will create thousands of jobs for Guyanese. (Modified from DPI)
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