Over 100 jobs to be created as MOU inked for the establishment of US$10M cassava plant in Guyana

The content originally appeared on: INews Guyana
Vice President of Kumasi, a Guyanese-descendant, Loida John-Nicholsoin

One hundred jobs will soon be created for Guyanese as a Memorandum of Understanding (MOU) between Kumasi and prominent engineering firm, Globaltec Dessarollos e Ingenieria S.A, for the establishment of a cassava processing plant in Guyana, to the tune of US$10M.

The signing was facilitated on the sidelines of the ongoing Guyana Energy Conference and Supply Chain Expo 2024 at the Marriott Hotel, Kingston Georgetown on Tuesday.

With the establishment of the plant, high-quality cassava flour will be produced, thereby creating jobs and boosting the empowerment of Guyanese youths.

The initiative will significantly contribute to the government’s pursuit of achieving food security and align with the country’s economic diversification to empower the local economy and foster job creation.

Vice President of Kumasi, a Guyanese-descendant, Loida John-Nicholsoin, during the simple signing ceremony, expressed that the venture is ‘super exciting’ for Guyana. “I am Guyanese and I am excited … The initiative reflects a commitment to sustainable development, community empowerment and environmental stewardship. The project aims to create over 100 jobs and empower Guyanese youths,” she stated.

The Globaltec company excels in agricultural and agro-industrial sectors, focusing on integrated agricultural and livestock development, and crop development through advanced techniques like greenhouses and irrigation among other related areas.

“We are looking forward to the partnership and we expect that the building of this cassava processing plant will significantly impact the prosperity and sustainable development in Guyana,” she further expressed.

It is exploring additional agricultural opportunities within Guyana, including the development of shade houses for the cultivation of herbs and tropical flowers, coupled with downstream packaging processes.

Also present at the signing were the Kamasi’s President, Ian Nicholson who made known his happiness in being able to contribute to Guyana’s ongoing development.

Guyana is leading the Caribbean Community in achieving food security through its 25 by 2025 initiative, which seeks to cut the import costs that are over US$5 billion by 25 per cent by the year 2025. [Extracted and Modified from DPI]