Towards the modernisation of its massive wharf facility in Guyana, Muneshwers’ Limited – a household name in the South American nation – has inked a US$4 million deal with the Inter-American Development Bank (IDB) to procure the country’s first mobile crane.
The deal was overseen by Guyana’s Finance Minister, Dr. Ashni Singh, on Monday. The new General Manager of the Caribbean country Department (CCB) within the IDB, Tariq Alli, Chief Executive Officer (CEO) of IDB-Invest James Scriven and Robin Muneshwer were also present.
According to the Ministry, it is the latest agreement signed with the IDB to provide major financial investment in a private sector project.
The Finance Minister was keen to note that with Guyana’s significant economic growth because of oil and gas, it is aiming to build out the foundation for a strong and competitive non-oil economy.
“For this reason, we are building out infrastructure very aggressively, building out capacity for social services, roads, bridges, ports, hospitals, schools etc. and we are doing this with the support of a number of strategic and important development partners not least among whom is the IDB,” Dr. Singh explained. “We see the need for increased emphasis on private sector operations because in fact this rapid expansion in the Guyanese economy is being driven by the private sector and requires sustained investment by the private sector going forward.”
Muneshwers is the shipping agent and terminal operator for the Maersk Line and Sealand (a Maersk Company), the largest shipping line in the world and one of the market leaders in Guyana. The shipping agency has over 20 years of experience in the shipping industry and caters to the import and export needs of the country’s business sector.
Muneshwers is also one of the founding partners in the Guyana Shore Base Inc. – Guyana’s premiere deepwater port facility, headquartered at Houston, East Bank Demerara.