$619M contract inked for phase three of Mon Repos Market project

Nov 17, 2022 News

Kaieteur News – The Ministry of Local Government and Regional Development on Wednesday signed a $619 million contract to complete phase three of the Mon Repos Market rehabilitation project.

The contract was by the Ministry’s Permanent Secretary, Prema Roopnarine, and Contractors, Vals Construction for the completion of the western half of the Mon Repos Market. Kaieteur News had reported last month, that during the opening of tenders for this project, Vals Construction was the only contractor that bid for the project which was estimated to cost $438.6 million. The Contractor had submitted a bid of $619,068,835 to do the job.

Scenes from the contract signing ceremony for the completion of the Mon Repos Market.

In a Facebook post made by Ministry on Wednesday, Minister of Local Government and Regional Development, Nigel Dharamlall, who witnessed the signing, expressed in his brief remarks, gratitude to the vendors for their patience and cooperation and emphasised to the Contractor the importance of a timely completion and value for money. The Minister also informed those present that a bill of quantity will be posted for residents and vendors to see and verify the quality of works being done on the project. This project, the Ministry stated will commence immediately and is expected to be completed within six months. Over 227 vendors are slated to benefit from this newly constructed facility when completed.

The Mon Repos Market where works will be done: (Photo credit: Ministry of Local Government and Regional Development)

As reported in the media, the upgrade to the Mon Repos Market began back in 2020 and is all part of the Government’s initiative of improving the environment for business. It was reported that back in December 2020 the Ministry had taken the decision to upgrade the facility after learning of its dilapidated state. Back then rehabilitative works began on the drainage system within the market. The Ministry had mentioned that it would be rehabilitating fences, roofs, and creating bigger washrooms with much better service at the market.