… financial details still to be finalized – BrassingtonThe site of the Everton Berbice bauxite plant has been leased to Fidelity Investments Inc. and what is described as a Major International Cement Company and the duo have already commenced construction of a cement bagging facility but there is yet to be financial settlement on the matter.When contacted yesterday Head of the Privatisation Unit and the National Investments and Commercial Investments Limited,
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Cheap Jerseys From China, said that the facility had not been sold but rather leased and that there was a public invitation to bid.When asked about the lease price Brassington said that it was yet to be finalized and that the Privatisation Board and the lessees were preparing a statement to be issued shortly.It was explained that the Privatisation Board was still in the process of negotiations with the two companies which he said has made the most serious offer and have already invested substantial amounts of money in the project.He said that the Privatisation Board was seeking to have guarantees and see that the companies deliver on what was proposed.The new facility is described as a ‘backward integration’ project in that the company will start as a bagging facility but raw materials will be imported to actually make cement locally.Reports are that a number of Berbice residents have already been hired to work at the facility and are in the process of constructing the plant.Fidelity Investments,
Cheap NFL Jerseys China, imports ‘Titan’ cement from Venezuela among other products.The bauxite company had been experiencing problems for several years now due to the falling world market prices for the commodity.The Berbice Mining Enterprise (Bermine) plant is located on the East Bank of the Berbice River.Both Fidelity and the Privation Unit are saying nothing about the Agreement to lease the facility,
Wholesale NFL Jerseys, except that a release would be forthcoming.A multi-agency investigation was launched last year in light of possible defrauding of Government revenues by Customs Officers and the company Fidelity Investments,
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