‘This will be the largest single investment in Guyana, in excess of US$700M’
-Dr. Ashni Singh
A MAJOR international investor has now taken over the Amaila Falls hydro project and, according to Finance Minister Dr. Ashni Singh, this will be the largest single investment in Guyana, in excess of US$700M. Dr. Singh said the investor is a subsidiary of the Blackstone Group, a major international player. The Finance Minister also revealed that the civil works projects for Amaila Falls was advertised internationally, resulting in international bids being received. The preferred bidder identified was China Railway.
Dr. Singh yesterday, again, made public details of the Amaila Falls Hydro Power Project in Guyana.  Speaking with reporters,  Minister Singh said the administration has recognised the need that the project should be advanced as quickly as possible, and that there has been work on all fronts to do so.
“We have, in fact, decided to take advantage as an administration, of the political architecture that has been assembled;  this is the inter-parliamentary party dialogue forum,” Minister Singh revealed, adding that Cabinet will avail itself of that same forum  which brings together the political stakeholders,  and “engage the parties in a discussion on the Amaila Falls Project.”
The inter-parliamentary party dialogue was scheduled to be convened last evening, and a special presentation was planned for Amaila Falls project to the parliamentary parties.
Minister Singh noted that while some details relating to agreements under discussion cannot be placed in the public domain, “there would be no difficulty engaging with our parliamentary counterparts and our political counterparts on the details of this project.”
Dr Singh also noted that while there are constraints against excessively early disclosure of certain details in such large projects, this will be shared during the forum with the parliamentary parties. “So even where certain details relating to the agreements under discussion  cannot be placed in the public domain, we have no difficulty engaging with our parliamentary counterparts and our political counterparts on the details of this project,” he reiterated.
The harnessing of hydropower in Guyana has been the dream and aspiration of generations of Guyanese, Dr. Singh stated.  Guyana is now on the verge of having this project materialise.
The Finance Minister expressed disbelief that any rational, level-headed stakeholder would, “question the merits of harnessing hydropower in Guyana’s hydropower potential.”
Pointing out that the Amaila Falls Road project has been repeatedly spoken about publicly, he noted that it was also advertised publicly, in December 2009, with a closing date of January 2010. Four bids were received and evaluated and a preferred bidder identified.  Synergy Holdings was awarded a contract with certain safeguards written into it. A supervision contract was also awarded.
Dr. Singh said the execution of the civil works contract was supervised and the contractor encountered difficulties. As a result, the contractor was subsequently engaged in an agreement for completion, which he had failed to honour. The contract was subsequently terminated.
The valuation report was done by well known respected engineers, Walter Willis, Leon Goring and Gordon Gilkes.
Dr. Singh made all the documentation available to the media yesterday afternoon.
The Amaila  Project will generate reliable, affordable and clean energy and  is a fundamental component of Guyana’s Low Carbon Development Strategy. It will significantly lower Guyana’s carbon footprint while reducing the country’s long-term energy costs and exposure to imported oil price volatility.
The project involves the construction of a hydropower plant in the area of west-central Guyana, where the Amaila and Kuribrong rivers meet. Electricity produced at the plant will be delivered to Georgetown and Linden through a high-voltage 230-KV transmission line that will be built along with electric substations in Linden and Georgetown. The 270km-long transmission line will carry two circuits, thus providing redundancy in the event of loss of one circuit.
A new road approximately 65 km long will be built connecting the project site to the existing Bartica-Potaro road. Another new road, approximately 20 km, will be constructed from the existing Mabura Hills Highway to the Essequibo River.
Other existing roads will be upgraded in order to provide access needed to move  equipment, supplies, and personnel to build the project, as well as for future operation and maintenance of the plant and transmission lines.