–possess capability of manufacturing specialised blends of fertiliser to satisfy distinct needs of local, regional farms
IN a significant move towards enhancing Guyana’s agricultural capacity, GAICO Construction and General Services Inc. has solidified its partnership with the Dominican Republic’s largest fertiliser producer, FERSAN, under a joint venture agreement signed on Tuesday, February 18, 2025.
According to information from GAICO, the agreement, signed by its Chief Executive Officer (CEO), Komal Singh and FERSAN CEO, Luis Viyella, was witnessed by President of the Dominican Republic, Luis Abinader, and private sector institutions’ representatives from both nations.
The business, to be operated under the title Guyfer, will attempt to establish local fertiliser blending plants in Guyana.
The business, conceived by GAICO CFO Chandini Singh, is aimed at fulfilling the critical need for farm development and supporting Guyana to become food sustainable and expand.
The joint business will have the capability of manufacturing specialised blends of fertiliser to satisfy the distinct needs of particular farms in Guyana and other nations in South America and the Caribbean, the press release stated.
This alliance is well-timed for Guyana’s farming sector, which has experienced vast investment and development over the last couple of years.
The government alone spent $28.9 billion on the sector in the first half of 2024, representing a huge investment in agriculture. The introduction of Guyfer’s fertiliser blending operations is designed to complement this effort by promoting scientific agriculture and maximum production of crops.
The partnership between GAICO and FERSAN is not a business venture alone; it is a strategic alliance of Guyana and the Dominican Republic in an effort towards further co-operation and development.
Both partners envision carrying Guyana’s agricultural capability to world standards. By merging FERSAN’s production expertise in the area of fertilisers and local capabilities and infrastructure of GAICO, Guyfer aims to provide not just a commodity, but a whole service to Guyanese farmers.
This joint enterprise is a part of an overall trend in Guyanese agricultural expansion. GAICO is also making investment in a fertiliser blending plant and a second wharf on the West Bank of Demerara, amounting to over US$10 million.
These enterprises, along with the Guyfer venture, are setting Guyana in a position to play a focal role in regional agriculture and, in the process, reduce the Caribbean Community’s substantial food-import bill.
With Guyana being on a path of robust economic development, it is only befitting that partnerships such as the one between GAICO and FERSAN are nurtured to create homegrown capabilities as well as capitalise on global best practices.
Supported by funding from the two governments – that of Guyana as well as the Dominican Republic – the joint venture is set to transform Guyana’s agriculture sector, enhancing the country’s position in regional food production.
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Publish date : 2025-02-20 20:00:00
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