–President Ali says at the commissioning of US$30M marine facility
– Wales Development Zone to have manufacturing and industrial hub

THOUSANDS of ‘west-siders’ are set to benefit from a number of opportunities that will stem from GAICO’s US$30 million marine facility which was commissioned by President, Dr Irfaan Ali on Saturday at Nismes, West Bank Demerara.

The site is located approximately three kilometers from the Demerara Harbour Bridge and consists of four acres of land with full access to the Demerara River. Over the last eight years, the site was used as a wharf facility to moor company vessels and for discharging and storing equipment and construction materials. Drydocking and maintenance work is also being done for company vessels.

GAICO, a local company, had noted that the facility is expected to create new opportunities for the international transport of materials and goods. It is also expected to generate much-needed employment opportunities for laid-off workers of the depressed Wales Sugar Estate since its closure.

The project is expected to create 100 full-time jobs during operation.
Meanwhile, the Head of State, in his feature address, reflected on the drastic transformation of Region Three (Essequibo Islands-West Demerara) under his administration.

For instance, Wales, which was neglected under the previous coalition government and which suffered due to the closure of the sugar estate, will soon have a manufacturing and industrial hub.
“Today, every single person wants to buy a piece of land in Wales. That is a difference between two governments.

That is a difference between two different policies. You have moved from rubble and ruins to prosperity and pride and that is a simple truth. That is the unavoidable truth,” President Ali told a large gathering of private sector players, Opposition members and the diplomatic corps.

He then spoke on how the government’s policies are aimed at bolstering income and creating an array of opportunities.
In order to expand Guyana’s local capacity, the President called for maximisation of the local capital and local capability that exists within the country.

“So, in the coming months, you will see many massive, transformational investments being announced and being commissioned.”

Furthermore, he stated that the investments that are being rolled out across the country is as a result of the confidence the private sector is placing in the policy framing matrix of the government.

Speaking on how the People’s Progressive Party/Civic (PPP/C) government is always striving to propel development, the President underscored that more than $30 billion of investment was held up by the previous government and his administration tackled this head on, shortly after assuming office.

DEVELOPMENT
As Guyana remains steadfast on the developmental path, Dr Ali did not hesitate to point out to naysayers that Guyana does not revolve around oil and gas but uses it to diversify its economy.

“…Guyana is not about oil and gas, oil and gas is a catalyst, which will expand all other aspects and segments of our economy to be strong, resilient and sustainable. That is what we are creating an economy that is strong, resilient and sustainable,” the Head-of-State told the large gathering.

Additionally, Chief Executive Officer (CEO) of GAICO, Komal Singh, who is also the Chairman of the Private Sector Commission (PSC), called on the business sector to be more proactive.
Singh stated that development and investment is not scarce because the People’s Progressive Party/Civic (PPP/C) government continuously strives to open new doors of opportunities.

Reflecting on how he got to this moment, Singh stated, “We only got the permission to develop this facility in 2020 December; I want to thank His Excellency and his entire team for seeing the vision that we have seen to develop this facility.”
As the market continues to grow aggressively, Singh said that the project will complement all the other proposed developments for the West Bank Demerara area, including the Gas-to-Energy project.

“In two years from now the power plant will be up and running. We need to make sure we have our industry prepared and ready to capitalise on this opportunity. We need to make sure we have a robust logistic regional hub to make sure that our goods and services can reach the region on a timely manner,” he asserted.

For the project, GAICO had said, in a project summary, that it would have two phases; the first completed saw the construction of the dry dock, a reinforced concrete wharf, and a laydown yard to be upgraded to handle heavier loads using geotextile fabric along with white sand, loam and first-grade crusher run. The second phase saw the construction of finger piers.