THE Guyana Government yesterday announced that Global Energy Ventures is to build an ethanol plant here as part of the programme to find innovative ways of meeting the nation’s energy demands and agricultural diversification.
The Government Information Agency (GINA) said the decision stemmed from a meeting yesterday at the Office of the President where President Bharrat Jagdeo met Mr. Percival J. Patterson, former Jamaica Prime Minister and current President of Regional and International Consultancy (Heisconsults), and representatives of Global Energy Ventures.
The agency said President Jagdeo indicated that Patterson played a key role in setting the stage for the investment here by the energy company.
“All of the country knows about his commitment to Caribbean development and Prime Minister Patterson, even at the level of the Heads of Government was always involved in developmental issues. I think because of his current work in Jamaica, he saw the opportunity of getting a firm that is interested in ethanol production to come to Guyana. So we had discussions around those issues and we are going to follow it up”, he told the agency.
According to GINA, President Jagdeo said the venture is a private one and noted that such an undertaking would open endless economic benefits for Guyana.
“This could add a new sector to the economy. It could create thousands of jobs and therefore, we decided this may be an appropriate use of land along the coast and possibly in the intermediate savannahs.”
The President, the agency reported, said the development of an ethanol plant is not a new idea and the government has been in lengthy discussions in the past, on the feasibility and economic benefits from such a venture.
He said, “We have embarked on this project for a quite while now and almost a year-and-a-half we have been having discussions with a number of groups as to whether we will go ahead with an ethanol project.”
GINA said Mr. Jagdeo stated that a follow-up will be undertaken with those who expressed an interest in investing in ethanol production to determine “which one will have the best deal for Guyana”.
Patterson also met the President Monday at State House.
Also at yesterday’s meeting were Head of the Presidential Secretariat Dr. Roger Luncheon; Minister of Foreign Affairs Rudy Insanally; Minister of Agriculture Robert Persaud; Minister of Transport and Hydraulics Robeson Benn; Chief Executive Officer of Guyana Office for Investment (Go-Invest) Geoff Da Silva; Chief Executive of the Guyana Sugar Corporation Nick Jackson and Commissioner of Lands and Survey Andrew Bishop.
GINA said the expansion of sugarcane production for the new factory at Skeldon in Berbice will increase the output of the sugar factory and additional cane crops will be utilised to produce ethanol.
With world oil prices unstable, developing alternative sources is no longer an option but an imperative, especially for developing countries, it said.
Ethanol is a clean-burning fuel produced from renewable crops like corn and sugarcane and its use has long been advocated to curb dependence on foreign oil and reduce monoxide emission.
It is also used in perfumes, alcoholic beverages, medial wipes and in antibacterial hand sanitising gels as an antiseptic.
GINA said other alternative power sources being explored by the government are hydro-power, solar, wind and bio-diesel.