Govt, Barama commence contract renewal talks

TIMES INT'L

Discussions have commenced on the possibility of renewal of the Barama Company Limited billion-dollar investment in Guyana.

Representative teams of both Barama and Government have held discussions of the lumber company’s request for contract renewal of its investment agreement, as the Gy$43 billion contract is to expire in October this year.

The Government’s team comprised persons from the Ministries of Natural Resources, Indigenous Peoples’ Affairs, Business and Public Infrastructure, along with the Guyana Revenue Authority, and the Guyana Forestry Commission.

However, other formal talks on the company’s contract renewal is said to commence later this month.

Late last year, Natural Resources Minister Raphael Trotman visited the company’s Buck Hall, Essequibo, operations and met with Chief Executive Officer of Barama Company Limited, Choo Siong Liew, General Manager, Mohindra Chand, and Senior Manager with responsibility for Human Resources, Patricia Mingo.

During that tour, Chand had reiterated the company’s determination to continue its operations in Guyana, stating that while they are faced with many challenges, they are committed to never closing its operations.

The Barama Company established its operations in Guyana since 1991 and is one of Guyana’s biggest employers, employing approximately 1000 Guyanese.

Barama’s operations consist of Forest Management, Timber Harvesting and manufacturing of various wood-based products such as plywood, sawn timber, and flooring products.

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