Prawns project to rake in $1.5B by year-end – President Ali

The major prawns project launched at Onverwagt in Region Five will churn out a massive $1.5 billion by the end of 2025, President Dr Mohamed Irfaan Ali announced Sunday evening.

Speaking at the People’s Progressive Party/ Civic (PPP/C) rally in Bath, the head of state told the residents of Region Five that more resources will be provided to increase the prawns production, with youths in the region slated to be major beneficiaries.

He said, “We are going to grow that project within three years to turn over annually $6 billion, but more importantly, we are going to hand that project over to the young people of Region Five so you can earn it,” the president said, impressed with the forecast as the project is just two years old.

The initiative is part of a menu of new agriculture projects launched by the president to ensure Guyana contributes heavily to reducing CARICOM’s hefty food import bill.

Initiatives launched during the past five years include the Black Belly Sheep project, cage fishing, the Brackish Water Shrimp project, hydroponics, and shadehouse cultivation.

The plethora of agriculture interventions is reflected in the recent report that revealed Guyana is the only self-sufficient country.