— over 200 persons will be employed

GUYANESE-owned energy company, Vas Energy Inc. and its subsidiary, Georgetown Cement Company, on Wednesday, turned the sod for the construction of a US$100M state-of-the-art cement plant at La Resource, Essequibo Coast, in Region Two.

During the simple sod-turning ceremony held at the construction site, Chief Executive Officer (CEO) of Go-Invest, Dr. Peter Ramsaroop, said Guyana’s economy is currently booming and there are countless investment opportunities that are available.

He emphasised that the ultimate goal of the People’s Progressive Party/Civic (PPP/C) government is the creation of jobs for the people. It is for this reason that he is proud of the investment that is being made to construct the cement plant.

“Although it’s a foreign investment, it’s a local investor and, recently, we put out an Expression of Interest for a hotel around Guyana, and what we are proud of is that the first two hotels that have started are local Guyanese investors,” Dr. Ramsaroop said.

According to Dr. Ramsaroop, the anticipated infrastructural boom in Guyana will create a high demand for cement. He told the gathering that the plant is being constructed at an opportune time.

He said with current investments, such as the construction of the plant, and other potential investments, Region Two will be positioned for massive development.

Meanwhile, the Indian High Commissioner to Guyana, Dr. KJ Srinivasa, expressed his delight with being associated with this “beneficial” project which will be a great investment given the country’s economic growth.

Dr. Srinivasa said the cost of importing construction materials is very expensive and once the plant becomes operational, Guyanese will benefit from reduced costs.

The plant is expected to create employment for hundreds of persons.

“You are helping the local region to develop. I think that the scale of investment is what Guyana needs. These investments play an important role apart from the oil and gas,” Dr. Srinivasa added.

He said the Government of India will continue to work with the Government of Guyana through the many sectors to assist in developing the country.

Later, Vas Energy’s Chief Executive Officer (CEO), Vijay Sukhdeo, in his remarks, noted that the company and its subsidiary are pleased to be constructing the a state-of-the-art factory in the county of Essequibo.

Sukhdeo, who is originally from Wakenaam Island, told the gathering that Region Two was chosen to not only create employment opportunities for residents, but because of its industrial potential.

“I decided to choose Essequibo not only because I am from Wakenaam. I think the industrial revolution in Guyana and the people, including businesses, have long forsaken Essequibo. I am seeing agriculture, coconut and rice. We need some manufacturing in the region…this will help to create employment,“ Sukhdeo said.

Giving an overview of the project, he explained to the gathering that the plant will have a combination of French and German technologies that will produce 50,000 metric tons of top-grade grey and white cement.

Additionally, the plant, which is expected to be completed in 28 months, will manufacture hydraulic cement that is suitable for sea defence projects.

“Within 13 months, the grinding of cement will be produced on site. We will continue to import raw materials for the next 12 months. We, as Guyanese, will like to contribute towards Guyana’s growing economy. The plant will be able to supply the entire Guyana and neighbouring countries if we have excess. Our priority is to supply local Guyanese so the cost will cut,” Sukhdeo said

The new cement plant is expected to cut the cost of imported cement by 30%. The company, he said, intends to employ 180-200 employees on a full-time basis and an additional 100 persons indirectly to support businesses in the restaurant and transportation sectors.

The Prime Minister’s Representative, Arnold Adams, who represented the Regional Democratic Council (RDC) at the ceremony, said the regional administration fully endorses the project.

Adams said he is happy that the project will employ hundreds of persons which coincides with the PPP/C’s manifesto.