National News

Guyana: TOPCO and LR Group signed Dairy Farm Agreement

Tel-Aviv, Israel – Tropical Orchard Product Company Limited (“TOPCO”), a subsidiary of Demerara Distillers Limited (DDL) in Guyana and the LR Group of Israel signed today an agreement that paves the way for the setting up of Demerara Dairies Inc (DDI) in Guyana by the end of February and to commence the implementation of the $16 million US dollar project leading to the formal opening of the state-of-the-art dairy farm at Moblissa during the last quarter of 2024.

Dairy Farm Agreement

The agreement follows on an MOU which the two companies signed in 2021 which provided for collaboration on a feasibility study which entailed land selection, market research, financial and technical analysis, and examination of protocols related to international standards for fresh milk production. Officials from the LR Group made several visits to Guyana since signing the MOU including participation in an international food security conference and expo hosted last year by the Government of Guyana.

Several meetings and field visits were also held with various government agencies including the Ministry of Agriculture, the Guyana Lands and Surveys Commission (GLSC), the Guyana Livestock Development Authority (GLDA), the National Agriculture Research Institute (NARI), the CARICOM Secretariat and with the President of Guyana, Dr. Irfaan Ali.

During the current visit to Israel by the DDL delegation, agreement has been reached for expenditure of financial resources on the final design of the farm, procedures for the procurement of the first set of animals and equipment, the shareholding structure of DDI and further research that would facilitate the manufacture of value added products.

“It has taken us some time to get to this point but both DDL and the LR Group are committed to ensuring we do this right. Our visit to Israel at this time provided not only for detailed planning but for visits to dairy farms and related operations such as drip irrigation technology which could be utilized for the crops that will supply the feed for the cows,” DDL chairman Komal Samaroo explained.

Fresh Agriculture

“Signing of this agreement marks a significant step in the course of providing healthy and fresh agriculture products to the Guyanese people, contributing to the food security of the country and the entire region. LR Group feels that DDL is the most suitable partner to join us in this important journey”, CEO and founder of LR Group, Mr. Ami Lustig said.



Related Articles

Back to top button