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Dem. Bridge collects $703M in revenue as vehicular traffic increases by 2.9%
The Demerara Harbour Bridge Corporation (DHBC) has recorded a bump in revenue earning in 2018, according to figures released by Minister within the Ministry of Public Infrastructure, Annette Ferguson.
During her presentation on the 2019 budget debate yesterday in the National Assembly, Ferguson disclosed that the main revenue for the over 40-year structure is derived from toll.
As at October 31, 2018, revenue stood at $703M, while its current expenditure was $454M. For the corresponding period in 2017, revenue generated was $389.5M while current expenditure was $444M.
“Despite not receiving maximum subvention from Central Government in 2018, the Management and staff continue to ensure efficient and effective maintenance of this structure,” the Minister disclosed.
The Minister shared that in 2018, Government appropriated $5M to DHBC, which was utilized on the fabrication of connecting posts.
The Demerara Harbour Bridge
Apart from this expenditure, the Minister stated that DHBC utilised its generated revenue to execute a number of capital works. Specifically, $354.2M to procure items, fabricate buoys, maintenance to equipment/machinery, rehabilitation of main offices, rehabilitation of pontoons $284M.
Using the same period 31st October 2018, as against 31st October 2017, Ferguson stated that total vehicular traffic was 302,798 and 293,911 respectively; giving a daily average of 9,683 with a 2.9% increase in traffic.
The DHBC, according to the Minister, continues to effectively manage the asphalt plant along the East Bank of Demerara.
Production of asphalt at 31st October 2018 stood at 23,067 Metric Tons as against 23,735 Metric Tons for corresponding period in 2017, a decrease of 2.8% in production.
Revenue generation for same periods under review showed $748.4M in 2018 , while expending $672.2M as against $891.5M and expending $778M for the same period in 2017.
According to Ferguson, a total of $224.6M was expended using revenue from asphalt production to procure a new asphalt plant with an advance payment of $146M made, representing a 30% advance.
Revenue was used from the plant to secure a new bitumen tanker at $44.8M; vehicles for $19.8M; construction of stores building at $9.7M and design consultancy for a new laboratory building for $4.3M.
In 2019, the DHBC intends to use $101M for the procurement of wire rope at $1M and $100M for the Project readiness for the new river bridge crossing.
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