Loan signed for ECD four-lane

—Gov’t, Export-Import Bank of China ink $US$45.3M pact

RESIDENTS of Better Hope to Belfield along the East Coast of Demerara can begin to look forward to reduced travel time and transport costs and less traffic congestion as Government has secured a concessional loan for the widening and improvement of the East Coast Demerara Highway.

Minister of Finance Winston Jordan on Monday signed the Concessional Loan Agreement with the Export-Import Bank of China for RMB Yuan 313,838,800 or approximately US$45,318,337, the Ministry of Finance said in a release. This concessional loan was achieved less than two months after the signing of the Framework Agreement between the governments of the Guyana and the People’s Republic of China that took place on November 23, 2016, the release added. “Importantly, this section of the roadway between Better Hope and Belfield links numerous highly populated villages to the Capital City. When completed, the road will enhance the mobility and accessibility of commuters to and from Georgetown. It will also positively impact the accident rate and vehicular maintenance,” the release stated.

China Railway First Group Company Limited Works will commence works in the first quarter of 2017. During the recently concluded budget debate, Minister of Public Infrastructure, David Patterson had announced that the Chinese firm was awarded the contract for widening of the East Coast Demerara highway, which project has been stalled for some time. The firm which was previously linked to the Amaila Falls hydropower project was awarded the contract to complete the project between Better Hope and Belfield on the East Coast of Demerara.

Minister Patterson told the House that after considerable delays, the framework agreement with the People’s Republic of China for the US$45.5M concessional loan for the completion of the widening and improvement of the highway has been signed. The agreement was signed on November 23 and will complete the entire stretch of road from Better Hope to Belfield. According to Patterson, a sum of $1.4B has been set aside in the 2017 budget for the project which commenced in October 2011.

The project had stalled several years after its commencement and both firms which were tasked with carrying out works on the project have since wound up their operations here. Falcon Engineering and Dipcon Construction were awarded the contracts to execute the project under a two-lot system.

However, substandard work among other defects had resulted in the project stalling. Meanwhile, the East Coast of Demerara will also see additional features to the roadway as an arch is slated for erection at Cummings Lodge to mark the eastern entrance to the capital city of Georgetown. Patterson said that the project will be funded by Ansa McAL Limited. The privately funded project is being linked with the arch which was unveiled at Agricola earlier in 2016. That project was funded by beverage giant Banks DIH Limited.

Patterson said that lighting for the arches will be complemented by solar LED lights and bus sheds which will be powered also by solar LED lights. “Discussions are currently ongoing to supply free wi fi in the bus sheds,” he said. In May, the Agricola Arch was unveiled by President David Granger to mark the southern boundary of the city of Georgetown in commemoration of Guyana’s 50th Independence anniversary. “The Government welcomes this venture and will continue to partner with the private [sector] to execute projects which can benefit the people of our dear land of Guyana,” Patterson said.

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