Wednesday, November 30, 2022

Shipping corporation in Guyana urged to use waterside assets to cash in big from O&G opportunities

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The Guyana National Shipping Corporation (GNSC) is being urged by authorities to position its waterside commercial facilities to benefit from the growing business opportunities in the new oil producing nation.

Speaking at the recent swearing in of the GNSC Board of Directors, Guyana’s Minister of Public Works, Juan Edghill, told board members that with the opportunities available today, growth and progress will not be possible under the “business as usual mode.”

“This enterprise must be commercially viable. It must pay its own way, it must pay its own staff, it must be able to generate its own capital for its modernization and development,” he stated.

Mr. Edghill said the assets–premises and facilities–of GNSC are some of the most sought-after in the country. “Once you’re near the water with sheds and storage and berthing facilities, everybody in the oil and gas industry will be seeking out partnerships and engagements.”

He pointed out that the number of ships making port calls in Georgetown monthly has increased significantly as a result of the oil and gas industry. With these circumstances, Mr. Edghill said GNSC needs to be modernized and advised the company to develop its facilities and use them to generate income based on the maritime needs of the oil and gas industry.

“The demand for the space where the office buildings are on is to accommodate shipyards for the loading and storage of cargo,” Mr. Edghill said. “Your offices could be somewhere else while we’re making good use of this high commercial space.”

He urged company officials to envision a programme of modernization that will see the development of state-of-the- art facilities that will be operational over the next 50-60 years.

Mr. Edghill also recently urged the Sea and River Defence Board, which is one of the agencies responsible for approving waterfront developments in Guyana, to ensure that bureaucracy does not hinder investment in shore base and other such facilities.

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