A joint venture company has invested GY$7 billion (US $35 million) to convert the former Sugar Packaging plant at Enmore on the East Coast of Demerara into an Oil Field Manufacturing facility and pipe yard service for the oil and gas industry. The companies GUYSONS Engineering and US owned K+B Investments Inc. partnered to form a new company GK+B, with the Guyanese company as the majority shareholder.
It is expected that the 500 jobs will be created in the community of Enmore. This announcement comes on day two of the international energy and Guyana expo which is being held at the Marriot hotel in Kingston, Georgetown.
The proprietors aims to retain former sugar workers who were laid off with the closure of several sugar estates across the country, and provide opportunity for other employment. The startup of the project would employ 150 persons for which training will be provided in specialized areas.
“Our goal is to equip them with the necessary tools that will help to flourish their skills and services and have it regenerated back into the development of Guyana” said Nick Becnel head of sales for K+B Industries.
CEO of GKB, Faizal Khan added that “GKB is committed to the Government of Guyana’s vision to build local capacity within the framework of Guyana’s local content legislation.”
The company hopes to establish certifying programs that will provide employees with the opportunities to become skilled and qualified in their field of work.
The Company acquired 55acres of land from the Government to pursue its project which will see an eventual investment of US$60 million.
According to an announcement by the government the investment wasn’t unplanned but follows several meetings between the Government of Guyana and the investors to ensure all Guyanese benefit.
At the startup of the projects, vacancies will be made known to the public through advertisement in the daily newspaper and on online media.