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.
According to a statement from SGI, the partnership 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.
“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,” Kerensa Bart, President of Symmetry Group of Companies, said in her company statement. She said that together, they will provide seamless, integrated services while also contributing significantly to the sustainable development of Guyana’s maritime sector by fostering local participation and economic growth.
Director of the Local Content Secretariat, Dr. Martin Pertab, championed the formation of “synergistic alliances”, calling it a “major win” for local content. “Partnerships such as these enable the development of local skills and competencies while maintaining Guyanese beneficial ownership of companies.”
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.” He said that by leveraging the company’s global network and service capabilities, the joint venture will provide exceptional maritime solutions and foster local participation and economic growth.
Dr. Peter Ramsaroop, Chief Investment Officer of Guyana and Agency Head of the Guyana Office for Investment, welcomed the partnership, observing, “As Guyana expands its logistics sector, the synergies between SGI and ISS are a timely and strategic development.” He said the partnership not only strengthens the maritime services ecosystem but also underscores the confidence international firms have in Guyana’s economic trajectory and investment climate.
The joint venture, operating as ISS Guyana, will leverage the combined resources of both companies to offer a comprehensive range of services that fully support the principles of Guyana’s Local Content Policy, the statement read. Services will include Port Agency Services, Customs Clearance and Logistics, Marine Services, and Supply Chain Solutions.
