Georgetown: The Sea Rice Caribbean (Guyana) Ltd will be the new owners of the former Mahaicony Rice Ltd (MRL) facilities in Regions two, and six after payment of all debt to farmers and payment of the outstanding balance at the bank.
According to Minister of Agriculture, Dr. Leslie Ramsammy, the mills being managed by the new company are the Black Bush Polder mill (BBP) and the Buying Centre at No 70 Village Corentyne in Region six and the Vilvoorden Mill and Buying Centre at Paradise in Essequibo.
He said the new owners as per agreement with the government of Guyana will commence payment to farmers owed by the previous company since 2010.
Payments commenced in Region six tomorrow, Wednesday 6th March 2012 and will continue in Region two on Thursday 7th March.
Last week Sea Rice Caribbean (Guyana) Ltd paid in full all monies owed to the Guyana Government.
In 2010, farmers were owed more than $450M.The Government stepped in to pay farmers and MRL promised to pay back farmers within 3 months.
But MRL breached the agreement. The Government moved to the Courts, but Sea Rice stepped and concluded this arrangement,
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