GAICO expands dredge fleet in Guyana with US$2.5M acquisition

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre

Dredging the Guyana Demerara channel is becoming increasingly important as the country expects a ramp up in marine traffic due to oil and gas activities.

And GAICO Construction and General Services Inc. is positioning itself to provide the needed service with a new addition to its fleet of dredge vessels.

Chief Executive Officer (CEO), Komal Singh, shared with OilNOW recently that the company made a US$2.5 million acquisition of a brand new 18” Cutter Head Dredge – the Ellicott.

The vessel is used to loosen and dislodge soil through a rotating motion, so that the slurry can be drawn into the suction pipe.

The Ellicott is now GAICO’s fifth addition to its fleet.

In April, the company acquired the Malavi-Hopper Dredge at US$7.5 million.

And another dredge is expected to be added shortly. The Mesha Dredge is expected to cost around US$2.5 million. GAICO’s fleet of vessels also includes Hydraulic Cutter Head Dredges, Tugs, Barges, Supply Vessels and Backhoe Dredges.

GAICO has been in the dredging business since 2010 as the need for deeper channels became evident. And it will play a key role in the government’s plan to create a two-way channel in the Demerara River.

It is currently Guyana’s main hub of all import and export trade, but at a depth of only six metres, the river is quite shallow due to heavy siltation. It only allows marine traffic in one direction at any given time.

Because of this, cruise ships and larger cargo vessels are dissuaded from docking at the Georgetown Port. Government intends to make the river suitable for two-way traffic. It sees 10 meters as an ideal depth.

- ADVERTISEMENT -
spot_img

Partnered Events

Latest News

Guyana implements new policy, boosting advantage for locals in oil sector

Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating...

More Articles Like This