— to be operational in two months, create over 50 jobs
IN recognising that construction material is anticipated to be in high demand as Guyana continues its economic ascension and infrastructural transformation, investor, Amar Chetram, is positioning himself to absorb the potential opportunities through the establishment of a US$2 million (approximately G$400M) concrete production facility in Linden.
The company called Caribbean Concrete Guyana Limited is located at the Amelia’s Ward Industrial Site and has an estimated production capacity of 1,000 cubic yards of concrete mix per eight-hour shift.
Being a subsidiary of the Guyanese-owned Caribbean Concrete Limited of Dominica, the new establishment is well-experienced and has the capability to provide products such as pre-mix concrete, pre-cast products, concrete products and accessories.
Such products, according to Chateram, will be ideal for Region 10 (Upper Demerara-Berbice), where major infrastructural work is anticipated to be executed. The company is particularly keen on contributing to the Government’s “1,000 homes” project which is slated for the region.
Access to adequate housing is viewed as a basic human right, and is considered to be an integral factor for the enjoyment of other economic, social and cultural rights. And, with Guyana’s economy poised to quadruple in the coming years, the Government will be moving to ensure that its people, especially from the low and middle-income brackets, have access to adequate housing.
Housing units will eventually be constructed across all 10 administrative regions, and authorities are already working to identify and acquire lands for this purpose. But, specific to Region 10, in addition to the construction of 1,000 houses, President, Dr. Irfaan Ali, had announced that 50 houses will be constructed in Amelia’s Ward for young professionals by the end of October 2021.
In anticipation of this and other projects, Chateram has started constructing his facility, which is on course for completion and operationalisation in two months. When done, the company will create jobs for over 50 persons, most of whom are expected to be hired from communities within the region.
“Workers are on site and we have started office buildings and so on,” he said during an exclusive interview with the Guyana Chronicle, on Thursday.
Work on this state-of-the-art facility is expected to move faster, as the investor recently cleared the way for accessing concessions by signing a Memorandum of Understanding (MoU) with the Chief Executive Officer (CEO) of the Guyana Office for Investment (Go-Invest), Dr. Peter Ramsaroop.
“This investment reflects the company’s confidence in the Government’s commitment to Guyana’s sustainable development,” Chateram said.
This project is one in a slew of projects which are scheduled for this year.
Close to US$1 billion (G$215B) will soon be injected into Guyana’s economy in the form of world-class hotels which will be constructed across the country to cater for the anticipated increase in visitors, who are being attracted by the nation’s burgeoning oil and gas sector and its spill-off benefits.
A business-friendly climate supplemented by the anticipated economic ascension is being credited for the attraction of major players in the hotel industry, such as Sheraton, The Element, Delta Marriott, Best Western Hotels and Resorts, the H-Tower Luxury Hotel, the Marriott Courtyard, the Hyatt Hotels Corporation, the Radisson Hotels, and the Hilton Hotels and Resorts, among others.
This level of development is aligned with the Government’s vision, which was outlined recently by Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, during his presentation of the 2021 budget to the National Assembly.
The budget is aimed at ensuring that there’s a diversified and resilient productive sector by facilitating large-scale private investment in both traditional and new and emerging sectors, creating 50,000 jobs in the next five years, and promoting entrepreneurship at the medium and small-business levels.
Budget 2021 will also initiate investments in catalytic and transformative infrastructure, including energy infrastructure to ensure adequate supply at a competitive cost, and transport infrastructure to improve international connectivity, and unleash domestic production and productivity.
The year 2021, according to President Ali, will be the springboard from which Guyana will leap into recovery, rebuilding the economy, enhancing the people’s health and lifting up the vulnerable groups in society.
“We must not remain a rich country of poor people,” the President affirmed, noting that the bounty of Guyana must be shared across the population.
“Opportunities will be created to join in such work, and they will be made available to all. I recognise that there are communities within our society which, because of disadvantages of geographic location, will need more help than others to join our national advance,” President Ali reasoned.
The country will have to identify those communities, assess their needs, identify solutions, and implement plans to change their circumstances. This change will not occur overnight, it will take time. But every journey begins with a first step, the President said.