The Guyana Manufacturing and Services Association (GMSA) and India's NBR Cooling Systems Pvt Ltd signed a Memorandum of Understanding (MoU) on Thursday, January 12, establishing a new manufacturing/assembly facility in Guyana that will concentrate on the engine cooling systems for motor vehicles. This agreement will also see the Indian corporation invest about $1 million in Guyanese companies.
Transferring, manufacturing and assembling technology for radiator condenser and charge air cooler from India to Guyana would be part of the business framework. The framework will also include the production of radiator condensers and charge air coolers made of aluminium, copper, and brass; importing all the equipment and raw materials needed to produce charge air coolers and radiator condensers; the assembly and export of various radiator condensers and charge air coolers to all the countries in Latin America and the United States of America.
Transfer of technologies and skills for producing and assembling radiator condensers and charge air coolers from India to Guyana. The MoU was signed by the Guyana Manufacturing and Services Association (GMSA) and NBR Cooling Systems Pvt Ltd. (NBR) following the conclusion of the Global Investors Summit in New Delhi, India.
Mr Khan stated, "This collaboration will perhaps introduce a new industry or strengthening of the automotive cooling sector in Guyana and Caribbean region. I anticipate we would see this value-added automotive component company establishing a factory this year. The company currently produces approximately 1200 radiators per day."
The MoU was signed on behalf of the Association by Mr Rafeek Khan, President of the GMSA, and on behalf of NBR by Mr Aarif Hussain, Director. Board members Rosh Khan and Shyam Nokta from the GMSA also attended. The Investment Summit has sparked significant interest in increasing private Indian sector investment in Guyana across various industries.
Mr Hussain added, "This MOU marks a landmark collaboration and will provide new growth avenues for NBR in South American region. Since incorporating NBR, the Company has attained such remarkable progress and is now pleased to expand its international manufacturing plan in collaboration with GMSA".
NBR chose Guyana to carry out the same objective worldwide to strengthen its commercial operations and move up from being India's second-largest market player for cooling systems. By the terms of the MoU, the GMSA will seek Guyanese firms or consortiums to construct a manufacturing or assembly facility in the Engine Cooling (Automotive) Sector. The business will benefit from NBR's technical development, a wide selection of premium raw materials and components, market resources, and access to global compliance standards and guidelines.
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