Kaieteur News article, of Sunday 18th October 2015 titled “Forensic audit recommends criminal charges against Brassington—Minister Sharma” is premature when the basis of this assertion is from the unreleased preliminary audit report of Mr. Goolsarran, the appointed forensic auditor of NICIL.  

April 17, 2015 

The Guyana Marriott Hotel Georgetown opens its doors and invites guests to Travel Brilliantly, Guyanese style

Marriott Hotels, the flagship brand of Marriott International, Inc. (NASDAQ: MAR), celebrates the grand opening of Guyana Marriott Hotel Georgetown, the first Marriott International property for the country. Surrounded by the high-tech features and iconic glamour of the all-new Marriott Hotel, the 500 VIP guests, enjoyed the live music of the National Steel Orchestra, sipped on the Guyana Marriott Signature cocktail and dined from a specially curated menu by our executive chef of international and local Guyanese delights.

March 12, 2015

The following statement was read by CEO of AHI, Mr. Winston Brassington, regarding the scheduled opening of Marriott Hotel, Guyana:

Ladies and Gentlemen of the Media, welcome to the Marriott Hotel. The hotel component of the project will open in April 2015. The hotel will be the first major international brand to come to Guyana in over 45 years. The project has been undertaken following a full and transparent process. Throughout the entire process of this project, the Government/AHI has employed public advertisements at home and abroad to advance each stage of the project: 

January 14, 2015

For several years, the Opposition has revelled in spreading lies and distortions about Guyana’s development initiatives. Their sole objective has been to destroy the results of hard work undertaken by Guyanese over many years to advance our country.

In its desperate attempts to destroy development projects, the Opposition frequently resorts to false accusations of corruption where none exists, in order to create a fog of mis-information that sows doubts and fears in the minds of the people of Guyana.

December 15, 2014

Atlantic Hotel Inc (AHI) must, once again, correct a report in the Kaieteur News (11/12/14) headlined “Locals want $8M Marriott equity” which is untrue and completely misrepresents the facts. The Kaieteur News report alleges that “local businessmen who have expressed an interest in participating in the project…who have demonstrated capacity and financial ability” have been refused by NICIL.

The publication of this article itself serves to emphasize the deliberate policy of Kaieteur News to ignore the facts which have already been published in the media, including in its own newspaper, on the process of selecting the investor, and the announcement of the arrangements already in place many months ago.  It underlines the absolute failure of Kaieteur News to publish objectively and truthfully and the newspaper’s determination to continue to publish mis-information on the investment in this project.

December 2, 2014

A report published in the Kaieteur News of Sunday 30th November, 2014 headlined ‘Brassington pawns Marriott, adjoining state lands for US$ 29M’ is once again inaccurate, devoid of fact and deliberately intended to mislead the public.

The Kaieteur News report has referred to the publication of mortgages in the Official Gazette of November 22nd, 2014, by Atlantic Hotel Inc. to Republic Bank Ltd. of Trinidad and Tobago, claiming this to be evidence that the financial arrangements by Republic Bank for the financing of the Marriott operated Hotel have fallen through and that AHI was ‘pawning off the hotel’.  The newspaper also claimed that the published mortgages are for assets amounting to ‘US$29M slightly more than what was supposed to be sourced through Republic Bank’. The newspaper report also claims that the publication of the mortgages is evidence of a ‘change of plans’ for the financing of the Hotel.

October 22, 2014

Atlantic Hotel Inc. (AHI), owner of the Georgetown Marriott Hotel project, has conducted an immediate and preliminary inquiry into a report appearing in the Kaieteur News, Tuesday, 21st October, 2014, headlined “Marriott’s Chinese workers caught dumping drums of waste oil at seawall.”

The Shanghai Construction Group (SCG) is contracted by AHI, for the design and construction of the hotel project. SCG reported that labourers employed by SCG, without authorization of SCG’s management, disposed of the contents of three barrels of cement retardant material, which were in storage pending removal from the site as expired material.  

July 1, 2014

A calculated, ill-informed, politically motivated assault on the operations of the National Industrial & Commercial Investments Limited (NICIL) and its senior management has been driven in the media by A Partnership for National Unity (APNU).  These reports have no foundation nor basis in fact, but are made with the clearly deliberate intention of undermining and discrediting the major development projects initiated and lead by the company.

Georgetown, GINA, June 28, 2014

President Donald Ramotar today stated that there are distortions against the National Industrial and Commercial Investments Limited (NICIL). During his press conference held at State House he declared that “NICIL’s audit has been laid in the National Assembly up to 2012,” adding that there has not been a single comment on this. “Suddenly they are making a hue and cry,” he said.

June 19, 2014

We wish to refer to a report in the Kaieteur News of 4th May, 2014, questioning the transfer of 1 acre of land at Lillendaal from NICIL to China Railway First Group (Guyana) Inc. (CRFG). We are pleased to provide the facts on this matter.

In early 2013, on the expectation of the Amaila Falls project starting in late 2013, negotiations were held with CRFG on key matters related to the start of the project that resulted in two pieces of land being committed to CRFG. The key matters that were negotiated with CRFG related to:

June 7, 2014
National Industrial and Commercial Investments Ltd. (NICIL) has absolutely no connection with the development projects for the construction of a Specialty Hospital and the expansion of the Cheddi Jagan International Airport.

NICIL wishes to state that the allegations published in the Kaieteur News (Saturday 7th June, 2014) attributed to the leader of the Alliance for Change (AFC), Mr. Khemraj Ramjattan, and the leader of Alliance for Progress and National Unity (APNU), Mr. David Granger, that NICIL is paying the contractors constructing the Specialty Hospital and CJIA expansion project are entirely false and completely irresponsible.

NICIL considers the statements by Mr. Ramjattan, as disclosed by Kaieteur News, as dishonest, reckless and highly irresponsible.

May 28, 2014

Atlantic Hotel Inc. (AHI) has the great pleasure to announce the appointment by Marriott International Inc. of Mr. Roberto Grisi as General Manager of the Guyana Marriott Hotel Georgetown. Roberto will assume his new role effective June 1, 2014.

May 24, 2014

Atlantic Hotel Inc. (AHI) and Republic Bank Ltd. are pleased to announce the completion of the financial arrangements by Republic Bank for a syndicated borrowing of US$27M in debt financing for AHI. This is for the construction of the Marriott operated hotel and the shell of an Entertainment Complex.

April 15th, 2014

The Kaieteur News of Sunday April 13th published a report headlined “Ed Ahmad gears to make $600M on $80M Guysuco land”. National Industrial and Commercial Investments Ltd. (NICIL) wishes to make the facts clear about the allegations made in the report with regard to the privatization of the property referred to in the report.


Guyana Sugar Corporation (Guysuco) entered into an agreement on 21st November 2008, with the South American Wood Inc. for the sale of a portion of Plantation Groenveldt on the West Coast of Demerara of approximately 16 acres of land for a wood processing facility for the sum of $80M.

Winston Brassington interview on Under the Microscope with Michael Young

Michaeal Young: Welcome you to another edition of under the microscope I am Michael Young thanks very much for joining me. In the studio today is the head of NICIL Mr. Winston Brassington and we’re going to have a very focus discussion today we are going to discuss several topical issues with respect to NICIL, its operations of course we’re going to find out, we’re going to get to the bottom of the matter, to find out exactly how much money NICIL has, what that money is going to be used for or why the funds are at that level. We are also going to speak to Mr. Brassington on several other issues relating to or how NICIL does its business or what’s its record with respect to transparency and accountability. 


Nov 16, 2013

The management of NICIL is pleased to announce that its 2011 annual report was submitted by the Minister of Finance, Dr. Ashni Singh, on November 7th to the National Assembly. The submission of the report is in keeping with the process and procedure prescribed under the Companies Act.  The annual report for the year ending 2012 is being finalized and will be submitted to the Minister for his approval and consideration for submission to the National Assembly, shortly.


In addition, NICIL continues to work with the office of the Auditor General to have the annual reports of its subsidiaries completed and tabled in the National Assembly.


To date the Minister of Finance, has tabled over 138 sets of accounts relating to NICIL and its subsidiaries for the period 2002 -2012.

November 15, 2013 

The recently concluded arbitrational proceedings between NICIL and GNIC for unpaid rent have resulted in an award of $148,860,870 in favor of NICIL for the period 2006 to 2009.

The Tribunal Ruling (consisting of Messers Robin MS Stoby S.C. (Chairman), Stephen Fraser and Moses Nagamottoo, Attorneys-at-Law) was based on extensive reviews of exhibits tendered, pleadings, written submissions, and notes of cross- examination of NICIL’s Executive Director, Winston Brassington and GNIC’s Chief Executive Office, Mr. Clinton Williams.

Oct 4, 2013

A great deal of deliberately misleading information and ill-informed opinions have been published in the media, including in articles such as “Peeping Tom,” with regard to the financial investment in the Marriott Hotel project. Specifically, a deliberate and irresponsible attempt has been made to give the public the impression that the hotel investment and its control are being given away to the private investor. Nothing could be further from the truth. The facts tell an entirely different story.



September 23, 2013



Re: Response to Kaieteur News article "Recent allegations that NICIL is acting outside of its preview is an irresponsible claim by the Leader of the APNU, Daivid Granger."


APNU’s leader, David Granger’s recent attack on NICIL and Mr. Brassington is merely his part to play in the combined opposition’s continued games of charades which disguises their true motive of derailing development in Guyana.


Nothing in Mr. Granger’s statement is new and continues to be subjective as he applies a convenient interpretation of NICIL’s functions in order to serve APNU’s current agenda of opposing every act of development undertaken in this country because it is what the opposition does.


NICIL, a creation of Carl Greenidge under the PNC regime, continues to demonstrate that it has done more for accountability under the PPP administration than was ever done by Mr. Greenidge. This was covered extensively by the media in 2012. NICIL has tabled in the National Assembly audited accounts up to 2010 prior to the recess of Parliament and has submitted its 2011 audited financial statements to the National Assembly which will be tabled in Parliament when reconvened. Every action by NICIL has been to ensure that there is adherence and compliance with the laws of Guyana and its constitutive documents.


NICIL’s involvement in the Marriott project is very much a part of its "league" to invest in projects that are good for NICIL and the country as a whole. Mr. Granger’s assertions of "scams’’ or "money lost’’ are clearly ill-informed and demonstrate the opposition’s lack of interest to understand the project’s financing.



September 22, 2013


Recent allegations that NICIL is acting outside of its preview is an irresponsible claim by the Leader of the APNU, Daivid Granger.


Before such uneducated and ludicrous claims are made, it would be advisable for Mr. Granger to consult with his colleague, Carl Greenidge, who created NICIL in July 1990 when he was Minister of Finance.

Other News Sources


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