Asian company, IAST announce US$30M projects
Officials of the company met with President Donald Ramotar at the Office of the President before announcing its ventures.
The company plans to construct and operate a facility to produce 200 tons of wood pellets a day to export to Europe. Its second project is to produce three tonnes of activated carbon per day from coconut shells, to service Guyana’s gold industry. The third project is to use forest and agri waste to generate electricity, with the plant capacity being 8 Megawatts.
Executive Director of the company Manu Basal it is not looking for any concessions.
The Institute of Applied Science and Technology would be afforded a 5% equity in the projects, but not through finances, but through its contribution to the projects, which Executive Director Dr Suresh Narine explained.
President Ramotar welcomed the initiative, saying that he has always been urging the Institute of Applied Science and Technology to add to its research and contribute to commercial activities.
The three projects are expected to create 4-500 local jobs.