Jamaican News

Guyana closes state owned sugar factory as industry declines

Guyana Agriculture Minister Noel Holder

GEORGETOWN, Guyana _ A state-owned sugar factory in Guyana that had operated at a loss for years has been ordered shut down as the government seeks to scale back support for one of the country’s leading industries.

Agriculture Minister Noel Holder said the factory in Wales could only continue to operate with significant investment that would make little financial sense given the outlook for the industry in Guyana and throughout the world. He described the state of the industry overall in Guyana as “dire” and said it would need a subsidy this year of at least $60 million.

Opposition legislator and sugar union leader Komal Chand condemned the announcement Tuesday and said it would leave about 1,500 out of work.

The factory west of the capital leaves five remaining sugar factories in Guyana.

The Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *