Latest update November 14th, 2024 1:00 AM
Latest News
- “Regardless of a referendum ExxonM has to consent to change oil deal- AG, Anil Nandlall
- ExxonM produced 500 million barrels of oil Since 2019- Company says
- Deadly Israeli strike shatters sense of ‘safety’ in remote north Lebanon
- Govt. signs rental deal for second powership
- Auditors question ICAG’s motive behind suspension of licence and membership
New Pegasus Centre to be completed by 2020 year end
Works on the Pegasus Suites and Corporate Centre at Kingston, Georgetown, will be completed by the end of next year. However, the buildings will ready by the first half of next year.
Pegasus owner, Robert Badal, made this statement during a tour of the construction site, yesterday, to members of the media and Minister of Business, Dominic Gaskin.
An artist’s impression of the Pegasus Suites & Corporate Centre’
Badal said that the contractor, China Harbour Engineering Company (CHEC), is currently executing the first stage of foundation building, which involves placing piles as deep as 100 feet into the earth.
“It is a very complex operation. First, we have to drill the hole; then, we have to secure the hole; then we put the steel cage, and pump concrete at a high pressure.”
Badal said that 80 percent of the piling work has already been completed. He also noted that the building project is LEED Silver certified – a globally recognized symbol of sustainability achievement, which to his knowledge, no other building in the Caribbean has.
Minister Gaskin with Pegasus owner, Robert Badal, on the tour yesterday.
Minister Gaskin said, “[I am] very impressed and very excited. As you know, this is the largest single investment project by a local business in Guyana. That, in itself, is impressive and I am happy to have been a part of the launch.”
“Things are happening very quickly in Guyana due to the discovery of oil, and there’s a lot of business interest in Guyana. From this kind of project, the kind of accommodation for business and for guests, I think, will be needed, and relevant, going forward.”
Badal said that during construction, the government will benefit from over US$3M in taxes, and over US$4M per year after the completion of the centre.
The upcoming hotel represents one of the largest investments (US$100M) of the local private sector in Guyana. Plans for its construction indicate that there will be a 12-storey hotel to provide luxury accommodation, which will feature bars, restaurants and entertainment facilities, as well as long-term accommodation.
A second tower, intended to be the hotel’s corporate centre, will be built alongside the Pegasus Suites. Badal intends for it to feature first world offices and conference facilities.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Poor Power Planning (PPP)
…Peeping Tom Kaieteur News- Planning has long been the PPP/C government’s pride and joy. The PPP/C touts it at rallies,... more
Rising Gun Crimes in the Caribbean: Urgent Action required by all
By Sir Ronald Sanders Kaieteur News – There is an alarming surge in gun-related violence, particularly among younger... more
Weekend Cartoon
