Barama Company Ltd to resume operations Next year

Following a threat by President Bharrat Jagdeo to revoke the concession granted and after the dismissal of approximately 274 workers inclusive of singe parents, Barama Comapany Limited have announced its intention to restart plywood production.

            This is according to the company’s Chief Executive Officer, Clement Ooi, during a meeting with Agriculture Minister, Robert Persaud on Monday to discuss the future of the company following the closure of its Land of Canaan operations.

The restart of the plywood production will take effect as of June 2011, to meet local demand.

Ooi is confident that by June of next year the company will be able to resume duties with the installation of a smaller boiler. He pointed out that the company’s management will be looking at exploring other options and as such, it is anticipated that by December 2011 there would be a restart of normal operations.

 Following the laid-off of workers at the Barama Company Ltd, President Jagdeo met with the workers at which he offered them the State’s assistance in the form of a $25,000 per month stipend for three months, providing that they attend computer classes every day for the next three-months.

The Head-of-State then threatened to review the tax-concessions granted to the Company if they did not factory operations within a reasonable time.

The laid-off workers also received assistance from the Ministry of Agriculture recently in the form of Livestock.