Guyanese-owned energy company, Vas Energy Inc and its subsidiary, Georgetown Cement Co broke ground on a US$100m state-of-the-art cement plant at La Resource, Essequibo Coast, in Region Two.
Chief Executive Officer (CEO) of Go-Invest, Dr Peter Ramsaroop, said Guyana's economy is currently booming and there are countless investment opportunities that are available. According to Dr Ramsaroop, the anticipated infrastructural boom in Guyana will create a high demand for cement. He told the gathering that the plant is being constructed at an opportune time.
The plant will have a combination of French and German technologies that will produce top-grade grey and white cement. Additionally, the plant, which is expected to be completed in 28 months, will manufacture hydraulic cement that is suitable for sea defence projects.
"Within 13 months, the grinding of cement will be produced on site. We will continue to import raw materials for the next 12 months. We, as Guyanese, will like to contribute towards Guyana's growing economy. The plant will be able to supply the entire Guyana and neighbouring countries if we have excess. Our priority is to supply local Guyanese so the cost will cut," said Vijay Sukhdeo, Vas Energy's Chief Executive Officer (CEO).
The new cement plant is expected to cut the cost of imported cement by 30 per cent. The company, he said, intends to employ 180-200 employees on a full-time basis and an additional 100 persons indirectly to support businesses in the restaurant and transportation sectors.
