Georgetown: Investors from China and Malaysia are expected in Guyana on Sunday to sign a Memorandum of Understanding (MoU) with the Agriculture Ministry.
This will pave a way for a feasibility study on the production of biofuel in the Canje Basin.
The China-Malaysia commercial group is just one of 15 international investors that are eyeing Guyana for the production of biofuels through the planting of sugar cane, corn, soya, and palm.
Currently, Indonesia is the leading supplier for the global market that demands more of the tree’s versatile oil for cooking, cosmetics, and biofuels. With the large-scale production of palm oil, Minister Ramsammy believes Guyana can tap into the global market.
The China-Malaysian Group, a company out of India is currently conducting a feasibility study in another section of the Canje Basin to determine the possibility of bioethanol production through sugar cane. Dr Ramsammy said the company will be placing major emphasis on the production of bioethanol. However, given the company’s close proximity to the Skeldon Sugar Factory, if feasible, the Agriculture Ministry will be working along with it to provide the factory with sugar cane.
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