Guyana’s government is keenly evaluating the feasibility of establishing a genuine deep-water port. However, Vice President, Dr. Bharrat Jagdeo emphasized that the success of this significant venture hinges on a strategic trade link with Brazil.
At a recent press conference, when probed about the development of a deep-water port, Jagdeo confirmed that it’s a venture under consideration. “First, we looked at New Amsterdam,” he said, referencing the town located on the eastern bank of the Berbice River. Yet, he noted that challenges persist, especially with siltation in the river and the extensive costs associated with dredging.
However, these challenges are not insurmountable if they open up avenues for broader trade. “For that port to be built, you have to have a number of other infrastructures to go along with it including a connection to Brazil,” Jagdeo elaborated. Establishing such a connection would provide a robust stream of trade benefits, thereby justifying the investment.
The Vice President had previously addressed misconceptions surrounding the ‘Berbice Deep-Water Port’ being developed by CGX Energy. He had stated that CGX’s facility was “never a deep-water port,” emphasizing its inability to accommodate large vessels like the Panamax, which can transit the Panama Canal.
Jagdeo said while CGX’s investment in its facility has been a few tens of millions, a genuine deep-water port would entail an investment surpassing US$1 billion, given its capability to facilitate massive vessels. He said several groups are being considered for this potential project, including from Dubai and India.
