GS Jagdeo says co-investment, careful economic planning necessary for deepwater port development

Guyana is experiencing a massive growth in trade opportunities, and is increasing the demand for port facilities, particularly a deepwater port, which requires co-investment with the private sector, and careful planning.

The General Secretary of the People’s Progressive Party (PPP), Dr Bharrat Jagdeo underscored this point, while addressing the ongoing industrial dispute in Trinidad and Tobago.

He explained that while the government cannot directly intervene, they are open to working with the local private sector to help facilitate the movements of goods out of T&T and, “The [government] is open to ideas.”

Touching on long term solutions, he pointed to the ongoing development of the Port of Vreed-en-Hoop, which will not only serve the oil and gas industry, but could also facilitate greater movement of goods.

Additionally, the new Demerara Bridge being constructed can alleviate weight restrictions, allowing containers to be transported across Regions Four, Five and Six. 

“That would help enormously. It may not solve all the problems because ultimately, we do need a deep-water harbor,” he emphasised at a press conference on Thursday.

However, the prohibitive cost of dredging a massive facility is a significant challenge, especially if private investments are needed.

Potential investors would need a large stream of revenue to cover infrastructural costs, particularly dredging.

Also, he said, that the government is explaining new ideas that involve the construction of a causeway extending 6-7 kilometers into the Atlantic Ocean.

This project will complement the $300 megawatt Gas-to-Energy project, being developed at Wales on the West Bank of Demerara.

“It’s a major plan that we have. But these are not decisions that are made. If it was the AFC or the others, they would make all kinds of decisions. I guess these have to be done based on numbers [and] what’s good for the country.”