Some companies serving the Guyanese oil industry are moving their regional offices to Guyana, as the country is gearing up to be one of the oil provinces which will hold out the longest throughout the global energy transition. According to Guyana’s Minister of Finance Dr. Ashni Singh, they are beginning to see Guyana as their regional hub.
Dubai-based Unidome Global DWC LLC is one of the latest foreign companies which have decided to act on this basis. Unidome on Tuesday decided to partner with Guyanese owned Global Infrastructure Solutions to open a US$5 million manufacturing plant in Guyana to serve the needs of the oil sector. The partners intend, not to serve Guyana alone, but the entire Caribbean region.
Unidome’s Chief Executive Officer (CEO), Khalid Al-Qaqa during the signing ceremony on Tuesday said “Unidome is quickly growing its global footprint and as it finalizes the development of its 4th plant in Egypt, we saw the opportunity to establish a facility in the world’s fastest growing economy – Guyana, South America.”
While announcing the venture, Guyanese merchant bank, Smart City Clearing Solutions Inc. said the decision to target the Caribbean market involved considerations such as global supply chain issues and the drive to lessen Unidome’s carbon footprint.
Sherwin Sandy from Guyana-based Sandcorp Development Inc. said the manufacturing facility which he is helping to build, will be part of a large industrial park that he is developing in conjunction with Acarai Properties Guyana Inc.
“Historically, Guyana couldn’t afford to attract light manufacturing,” Sandy said during the signing. “But I am excited to be working with both Global Infrastructure Solutions Guyana Inc. and Unidome Global DWC LLC to be one of the founding tenants of a new industrial park that we are in the process of conceptualizing and developing to help support Guyana’s growth.”
Just recently, Guyana’s Finance Minister Dr. Ashni Singh was keen to note that, in making the decision to set up shop in Guyana, companies supporting petroleum operations are looking down the road at a time when both Guyana and Suriname are gearing up to become major petroleum producers.
He said, “The support services companies that have come and located in Guyana to support ExxonMobil are also looking down the road and are thinking; Guyana is the logical place, having established operations, to also serve the Surinamese oil and gas industry and even the industry within this part of the hemisphere…”