Guyana will guarantee financing for India group – Ramsammy denies company claims

UPDATED:  Ramsammy denies ‘60,000 hectares’ claims by Indian group

AUGUST 30, 2014 | … says agreement inked with Ministry has expired  
Agriculture Minister, Dr. Leslie Ramsammy, has denied that his Ministry allocated more lands in the Canje Basin, or entered into any “new deals” with Indian conglomerate, Ajeenkya DY Patil. This is in stark contradiction to what the company claims on its website. The company claimed that …[Read more]

Guyana will guarantee financing for India group – company website claims

– says it was given 60,000 hectares in Canje Basin

Leslie Ramsammy

Photo : Dr Leslie Ramsammy Min. of Agriculture

AUGUST 29, 2014 | BY —  |ndian conglomerate, Ajeenkya DY Patil, says that it has been provided with a 99-year lease on 60,000 hectares of land located in Canje Basin for a mega-farm. The Government of Guyana will provide tax holidays, waive import and export duties, and provide exemption from local taxes, the company said on its website.

The Ministry of Agriculture had initially stated that it had given approximately 10,000 hectares of land in the Canje Basin to the group for “mega farming”.  There have been no announcements by Government of these new arrangements.

The company said it was also able to acquire the rights to not only what is above the  ground but below, a significant allowance, as it could pave the way for even mining to taking place in the concession.

It is unclear whether the group has even started doing anything with the land allotted to them. Several calls between Wednesday and Thursday to Agriculture Minister, Dr. Leslie Ramsammy, went unanswered.
On the group’s website, the conglomerate stated that the administration will provide a single window clearance for all approvals like visas for importing labour. Further, Government will provide “sovereign guarantees” for successful funding of the project by international institutions. [Read more]

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  • Cliff  On 08/29/2014 at 4:33 pm

    If this is so, I Love it. It means more investment for Guyana particularly in Agriculture.

  • cyril balkaran  On 08/29/2014 at 8:41 pm

    tHis is the kind of investment that will auger well for food securityin the future the caricom grouping of nations should hang their heads in shame for not grabbingat the opportunies presented by the Guyana’s 83000 square miles that is bathed by the precious fresh waters of the AMAzon Basin. when will the Caribbean begin to wake up to the reality of life in this century?

  • compton de castro  On 08/30/2014 at 6:03 am

    CARICOM looks north for its security…NAIVETY…
    AMERICA serves one GOD ….American money God !
    Not only India and China should be encouraged to
    invest in Guyana ..its neighbours should also be encouraged
    in competition with USA CARICOM BRAZIL VENEZUELA SURINAME Et al….our world is ‘global’ economicly’
    ‘unique’ politically !
    We must see not only the leaves and trees but the forrest !

    Think global and act local…..
    My spill…..

  • E Jopseph  On 08/30/2014 at 7:24 pm

    Where is the African input, I do hope that the investments would harbor well for the entire Guyanese community/, bringing our people together as one group dedicated to the prosperity of the country

  • de Castro kamtan  On 08/31/2014 at 3:59 am

    Joseph share your sentiments and your call for a UNITED Guyana.

    Unity is strength……United we stand decided we fall/fail.

    My apologies
    The african input is included in the USA CARICOM BRAZIL VENEZUELA SURINAME ET AL……
    input is not only ‘external investment’….its also internal
    Investment in the guyanese peoples !
    Regardless of race colour or creed…..’religious belief’

    Kamtan UKPLC

  • de Castro kamtan  On 08/31/2014 at 4:00 am

    United we stand ‘devided’ we fall/fail………

  • Albert  On 08/31/2014 at 7:24 pm

    Too much of a skeptic to accept things so easily. This is “talk” about secret agreements for agric. investments by certain groups. These kinds of agreements should be transparent so everyone could know see what the investors are really expected to do and how it would benefit Guyana.

  • de Castro compton  On 09/01/2014 at 3:31 am

    In the ‘develpped’ world the business ethos is changing…
    Deals are ‘advertised’ to gain consumers confidence…PR.
    (public relations advertising etc)…which is monitored
    aggressively by governmental institutions. Misdemeanors
    penalised with fines that hopefully not only offset the
    administrative cost but makes a profit for taxpayers….
    the way forward….Catch 22 in political thinking.

    I share both your sentiments and scepticism in the guyanese
    scenario… the operative word !

    • Albert  On 09/01/2014 at 11:53 am

      In my part of the world no global deal involving US estate is made without Congress approval. The President may float an idea to see how the Congress/public react before submitting for a vote. US govt may facilitate but rarely makes business deals.
      In Guyana my reading of the article is that this is not a proposed but a secretly done deal in which major portions of Guyana has been given away (99 years lease) without public debate. Since this is a business deal done by politicians, as it seem without Parliament approval, what is to stop a next govt from reviewing all these agreements to void or modify them. For one thing the public need to know how the deal is monitored to verify investor’s compliance. A true investor would also make sure these political loose ends are tied up.

  • de Castro compton  On 09/01/2014 at 12:57 pm

    Exactly…who owns Guyana ? Multi national corporations
    who put political pressure on politicians to ‘sell’ their crown
    jewels……Thatcher was about to sell UKPLC to Reagan
    but dem rich Brits said no ! at the ballot box.
    Cameron is a Thatherite just as Putin is a Stalinist !
    Maybe these two have more in common !
    Today its UKPLC tomorrow ENGLAND.PLC.

    Wake up guyanese may be too little too late !


  • de Castro compton  On 09/01/2014 at 4:34 pm

    After Scots have voted (think it may be a ‘No’ vote ) YES to
    independence we will have EWIPLC (ENGLISH WELCH IRISH
    PLC remaining…..wealthier UKPLC.
    UKPLC under Cameron is a stable tax haven…..
    London city the ‘money launderer’ of east West money
    movement…..location location in financial terms…..
    Sun rises in East sets in West….GMT in middle.
    Pound the middle man.
    the ways I see it !

  • Raymond Massay  On 09/14/2014 at 8:37 pm

    Jeff 2014/09/14 ” Above and below the ground”? Agriculture or mining or just take whatever you want? This certainly seems to be a wholesale sell out or give away Are we that badly off? Who knows anything about this company’s track record? I acquiesce with Albert Sept 1 this whole deal lacks transparency.

  • compton de castro  On 09/15/2014 at 1:54 am

    The wealth of a nation is not measured by its natural resources
    Or strength of its currency but by the desire of its peoples to
    achieve…there must be the opportunity for them to do
    so by the decisions of their political class. Get the decisions
    right and just (fair) and everyone benefits …get it wrong
    can be disastrous !…win win situ or loose loose situ….
    But you can only win most of the time neither loose all
    of the time. Am hopeful for Guyana and its peoples.!!

    Selling Guyana s natural resources for short term gain
    will only lead to long term disaster….deforestation etc etc
    Sustainable development the way forward….

    Decisions decisions !

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