Sunday, October 2, 2022

Ramps fails in bid to operate as local company, says it ticked all the boxes

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OilNOW
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Ramps Logistics Guyana Inc. has brought forward a claim that the company was denied its Local Content certification even though it met all the requirements set.

“The recently passed Local Content Act stipulates that a company must have a local content certificate to operate in the Guyana Energy Sector. Ramps Logistics Guyana Inc. has followed all the required guidelines to apply for this Certificate and was denied,” the company stated.

The local content certificate is a critical document for Guyanese companies looking to win contracts in the oil and gas sector. Getting it would mean the company is listed on the local content register, where government expects companies to make their hires.

Ramps is an affiliate of the Trinidadian RAMPS Logistics.

Following the establishment of Guyana’s Local Content Act in December, companies started adjusting so they could get onto the register. This was government’s intention, to make sure more Guyanese citizens can participate at every level of this sector.

A Guyanese company is defined in the Local Content Act as a company incorporated under the Companies Act, and cedes ownership of at least 51% of it to Guyanese nationals.

In addition to this, the company must have Guyanese nationals holding at least 75% of executive and senior management positions and at least 90% holding non-managerial and other positions.

Guyana mulls court action against companies trying to bypass local content laws | OilNOW

More details on the matter involving Ramps will be made public on Thursday when it holds a press briefing, “to share information that has recently come to hand in the matter that is relevant to all companies and investors seeking to invest in Guyana,” Ramps said.

Its Chief Executive Officer (CEO) Shaun Rampersad and Logistics Director Samantha Cole along with its Regional Logistics Specialist Brandi Archer are set to make comments.

The Trinidad and Tobago-based company is touted as a leading provider of freight forwarding and supply chain management services.

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