-at least 32 persons to gain employment
WITH the market for aggregate continuing to expand due to Guyana’s emerging oil and gas sector and booming construction industry, local businessman Lakeram S. Harridat will soon establish a $US11 million quarry on the bank of the Essequibo River.
Harridat is the latest Guyanese to position himself to benefit from local investment opportunities.
The proposed project site is approximately 92 kilometres southwest of the capital city of Georgetown and the closest town is Bartica, some 19 miles to the south.
According to the Institute of Quarrying, this activity involves the process of removing rock, sand, gravel, or other minerals from the ground, for use in the production of materials for construction or other purposes.
Quarrying is any such work on the surface of the earth where minerals are extracted. Quarries are also known by other names around the world, such as, surface mine, pit, open pit, or open-cast mine.
The institute says that materials produced by quarrying are essential to everyday life, as they provide the construction materials needed to build roads and buildings, deliver vital minerals to agriculture and support the generation of electricity among other things.
The project is expected to produce 1,250 tonnes per day and 25,000 tonnes per month. The quarry will operate five days per week for single eight-hour shifts. The planned life of the Phase 1 project is five years with an additional five years for post-closure monitoring.
According to the company’s project summary, an Environmental Management Plan (EMP) has been designed to manage and, to every extent possible, prevent or mitigate the potential environmental impacts associated with the proposed project (Essequibo Quarry) to be conducted. The EMP applies specifically and exclusively to those activities conducted within the confines of the mining permit to further and characterise the extent of the stone resources contained within the project area. The plan covers only the first five years of the project and will be updated as needed.
The rock that will be quarried at Essequibo Quarry is dark medium-grained, massive gabbro.
The multibillion-dollar investment will employ a minimum of 32 persons inclusive of a site manager, engineer, safety professional, and plant operators.
There will also be housing facilities made from local wood products and aggregate material. This construction will occur simultaneously with equipment mobilisation to the site. Local skills and labour will also be used for construction of the buildings.
MORE LOCALS INVESTING
This multibillion-dollar investment is another instance of Guyanese investors taking up the opportunity to invest at home. With Guyana positioned to become a hub for major investments, the government is keen on keeping its promise of allowing locals to benefit from the vast opportunities available here.
Reflective of this commitment is the fact that 65 per cent of the private investments made this year were from locals.
Speaking during a recent interview on Globespan, Chief Executive Officer (CEO) of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop said that even as the economy continues to grow, President Dr. Irfaan Ali, and, by extension, the government, is committed to having Guyanese benefit from the local investment opportunities that are available.
“So, when people think the foreigners are coming in and benefitting, I can say that 65 per cent of my signatures on investment opportunities this year through the Senior Finance Minister, Dr. Ashni Singh, have been local businesses,” Dr. Ramsaroop said.
The GO-Invest CEO further said that the government has been implementing systems to provide incentives to all investors, whether large or small. He reminded his audience that outlined in the government’s plans are opportunities for persons to become investors, and benefit from opportunities across several sectors.