GEORGETOWN, Guyana, The United States Ambassador to Guyana, Sarah-Ann Lynch, says Washington will continue to seek more U.S. involvement in the country’s development, noting that the signing of a multi-million dollar contract with the US-owned LINDSAYCA/CH4, underscores such cooperation.
On Tuesday, Guyana signed the US$759 million contract for the construction of the integrated Natural Gas Liquids (NGL) plant and the 300-megawatt (M.W.) combined-cycle gas turbine (CCGT) power plant at Wales, West Coast Demerara (WCD).
“I am very excited about this ground-breaking announcement that will drastically lower the cost of electricity, unlock new opportunities for economic diversification, and produce significant amounts of cooking gas for citizens,” said Lynch.
She said she had been impressed with LINDSAYCA/CH4 by their willingness to explore a new market and that throughout the process, they have pushed to provide the best possible engineering solutions while being attentive to the requests of the Guyana government.
“The companies in the consortium have an excellent track record of delivering projects in other countries, and we are just thrilled to have them in Guyana,” the U.S. diplomat said, recalling that in July this year, President Dr. Irfan Ali had called on her to bring quality U.S. investors and businesses of all sizes to Guyana.
“So, I couldn’t be prouder of my team, which has worked so hard, day and night sometimes, with all serious U.S. investors to help them navigate the business world in Guyana. I’m so pleased that we continue to deliver top-notch U.S. businesses that bring quality and excellence to all their products. “And, it’s also very rewarding for us that it’s not just us saying this, but also, internationally-recognized expert advisors hired by the Government of Guyana who ranked these U.S. firms as the most technically qualified for this project,’ Lynch said.
Last Friday, the government announced that LINDSAYCA/CH4 had been confirmed to build the natural gas-fired electricity plant and natural gas liquids plant at a reduced cost of US$759 million.
The authorities said that the first payment would come from GUY$20 billion (One Guyana dollar=US$0.004 cents) in the 2022 national budget, and the remainder would be a loan from the United States Export-Import Bank.
LINDSAYCA/CH4 had bid to build the facility for US$899 million under an engineering, procurement, and construction contract, but Vice President Bharrat Jagdeo said a number of aspects of the original bid had been erased during the negotiations leading to a reduction in the cost.
“A number of things in the LINDSAYCA bid- they had provisions for a number of things that were not required as part of the manufacturer’s requirement, so those were removed,” he said.
The U.S. diplomat said that she wanted to congratulate the government here “on a tender process that was open and fair and that enlisted the support of international partners.
“I was also so pleased that you chose to hire a separate firm for oversight of the project, allowing your government and the people of Guyana to know that the work will be done to the highest standards possible.”
But she said the most exciting prospect about the new agreement “is that it will very likely unlock amazing opportunities for even more U.S. businesses to look at Guyana as a destination for their investments.
“The U.S. Embassy remains committed to improving the prosperity of Guyana and deepening our already strong relationship. On behalf of the U.S. Embassy and the U.S. government, I congratulate you once again on choosing an excellent partner for the Gas-to-Energy project. And we look forward to delivering additional U.S. partners to you soon,” Lynch said.
President Ali said that the multi-million dollar project will unlock enormous economic opportunities for Guyana and that the initiative will help to build the local capacity, particularly among the young people involved, especially during the initial stages of the project’s implementation.
“This is the largest project that we would have embarked on as a country, and that brings with it its own challenges, but it also gives us an opportunity to build capacity,” he said.
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