Demerara Distillers Limited (DDL) on Wednesday announced a programme of development that would see the company investing $10 billion (US$50 million), over the next three years.
Speaking on Wednesday after a tour of DDL facilities by Prime Minister Moses Nagamootoo and Business Minister Dominic Gaskin, DDL Chairman Komal Samaroo said that the investments over the next three years “are in pursuance of DDL’s strategic goals to increase its export earnings [and], to diversify its income base; not only in alcohol but other things like food processing and other non-alcoholic beverages”.
Prime Minister Nagamootoo, indicating that he was happy to finally have his long overdue visit to DDL, said he was “delighted to see that our local manufacturers are hard at work ensuring that our local products reach the global markets”. He added that the expansion plans outlined by DDL on Wednesday demonstrate the company’s continued confidence in Guyana’s economy. “As a government, we will continue to support them and all manufacturers of local content,” he stated.
Describing DDL as “one of the biggest value-added companies in Guyana and probably Guyana’s most successful value-added company”, Minister Gaskin said “it was good to get a walkthrough and get a glimpse of their manufacturing facilities”. He wished the company well with its expansion plans and said the Government stood “ready to give support to DDL wherever possible”.
The new DDL expansion programme includes some projects that have already started, some projects that are ready to go, and some projects that are in various stages of the planning process. Projects that have already started include the new warehouse for storing aging rums. Projects that are ready to go include the new blending department and the new DSL warehouse.