US-based company set to take over Mahaicony Rice Mills Limited

TIMES INT'L

Closure is soon to be brought to the issue of the Mahaicony Rice Mills Limited and the outstanding dues owed to the rice farmers and the government, according to Agriculture Minister Dr. Leslie Ramsammy.
He said shortly, following the conclusion of an agreement, the mill will be in the hands of a new owner; an US-based company. However, the new owner must pay all outstanding dues owed by MRL both to the rice farmers and to the government before an operations licence is granted.
“The engagement with this international company, which is between the international company and MRL for them to take over MRL operations, is contingent on them being given a licence to operate. That now becomes our responsibility.”
Minister Ramsammy said that to the best of the ministry’s knowledge MRL has paid back to some farmers, some of that money owed. He said, however, there is still approximately Gy$60M outstanding to farmers while Government is owed approximately Gy$450M.
The Agriculture Minister expects that the changeover of the mill’s ownership will be completed at the most in two-weeks and whilst he did not disclose the name of the potential buyer, as talks are still on-going, he said that the US-based company has a great international reputation and is one of the largest and leading rice traders in the region and the world.

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