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Guyana: Economic woes affect investment projects
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GEORGETOWN, Guyana - Guyana's prime minister says the economic crisis is forcing two international companies to rethink billion-dollar investment projects in the South American country.
Samuel Hinds says the Chinese Bosai Minerals Group will build only the first phase of a $1 billion aluminum smelter plant until demand and prices for the commodity increase. It is unclear when construction will start.
Hinds also said Friday that Russia's United Company Rusal has delayed plans to revive a hydroelectric project in the western Amazon jungle because of a soft market for bauxite products.
Rusal laid off 52 workers at a Guyana plant last month for the same reason. The company is the world's largest producer of alumina.
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