See below the full statement issued:
Symmetry Group Inc. (SGI) and Inchcape Shipping Services (ISS) today announced a strategic joint venture in Guyana, with SGI acquiring a 51% majority stake in ISS Guyana. This partnership strategically aligns with Guyana’s Local Content requirements, combining the strengths of both companies to offer an enhanced, integrated suite of maritime and logistical services, poised to meet the growing demands of the country’s burgeoning oil and gas sector.
The Symmetry Group Inc. portfolio includes Symmetry Brokerage and Logistics, specializing in customs clearance and logistical support; Xpatria Inc., providing immigration and related services; and Inchcape Shipping Services Guyana Inc., a global leader in port agency services, marine operations, and supply chain solutions. Inchcape’s inclusion enhances Symmetry’s capabilities through its extensive international network, advanced technology, and proven expertise in maritime solutions, reflecting the group’s strategic growth.
Dr. Peter Ramsaroop, Chief Investment Officer of Guyana and Agency Head of the Guyana Office for Investment, welcomed the announcement, stating: “As Guyana expands its logistics sector, the synergies between Symmetry Group Inc. (SGI) and Inchcape Shipping Services (ISS) are a timely and strategic development. This partnership not only strengthens the maritime services ecosystem but also underscores the confidence international firms have in Guyana’s economic trajectory and investment climate. Under the visionary leadership of His Excellency Dr. Mohamed Irfaan Ali, Guyana continues to create an enabling environment for transformative investments that prioritize local ownership, build capacity, and promote long-term sustainable growth. It is a clear signal that Guyanese companies, backed by strong global collaborations, are leading in the provision of world-class services that meet the highest standards of the oil and gas industry.”
Director of the Local Content Secretariat, Minister of Natural Resources, Dr. Martin Pertab, said “The Local Content Secretariat and by extension the Government of Guyana is proud of and continues to champion the formation of synergistic alliances such as this one which is seen as a major win for local content. The Local Content Act was created to foster partnerships and joint ventures between Guyanese companies and international companies, with the latter aiding in bolstering the capabilities of Guyanese companies to offer competitive, industry-certified services at the level and scale required for oil and gas operations. Partnerships such as these enable the development of local skills and competencies while maintaining Guyanese beneficial ownership of companies. The Government is committed to ensuring that local companies build their portfolio, increase their competence, meet and exceed international standards for doing business in the industry, and benefit from our petroleum heritage”.
“This strategic alliance with Inchcape Shipping Services represents a significant milestone for Symmetry Group Inc., and, more importantly, a commitment to supporting Guyana’s Local Content Policy,” said Kerensa Bart, President of Symmetry Group of Companies. “By combining our local expertise with ISS’s global reach and capabilities, we are creating a powerful synergy that will deliver unparalleled value to our clients while actively contributing to the development of Guyanese talent and businesses. SGI’s local knowledge and dedication to building local capacity perfectly complements ISS global expertise and commitment to delivering world-class maritime solutions. Together, we will not only provide seamless, integrated services but also contribute significantly to the sustainable development of Guyana’s maritime sector by fostering local participation and economic growth.”
John Willemsen, VP LATAM at Inchcape Shipping Services, commented: “This partnership with Symmetry is a testament to our commitment to supporting Guyana’s Local Content Policy. By leveraging our global network and service capabilities, we are confident that this joint venture will provide exceptional maritime solutions and foster local participation and economic growth. Together, we are ready to meet the growing demands of Guyana’s oil and gas sector with efficiency and innovation.”
The joint venture, operating as ISS Guyana, will leverage the combined resources of both companies to offer a comprehensive range of services that fully supports the principles of Guyana’s Local Content Policy, including:
Port Agency Services: Streamlined vessel handling, documentation, and coordination, utilizing local resources wherever possible.
Customs Clearance and Logistics: Efficient and compliant clearance of goods, transportation, and warehousing solutions, prioritizing Guyanese businesses in the supply chain.
Marine Services: Expert support for vessel maintenance, repairs, and crew management, actively promoting local employment and skills development.
Supply Chain Solutions: Integrated management of supply chains from origin to destination, prioritizing the use of local suppliers and vendors.
Immigration Services: Expedited and compliant handling of crew and personnel immigration requirements, ensuring adherence to local labor regulations.
This strategic alliance underscores both companies’ dedication to supporting the growth of Guyana’s maritime industry, contributing to the country’s economic development, and, crucially, adhering to and championing the principles of Guyana’s Local Content Policy to maximize the benefits for the Guyanese people.
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