Another $332M estimated for phase 3 of Parika Market project

Nov 08, 2023 News

Kaieteur News – After spending almost $300 million on phase one and phase two of the project, the government has now set aside some $332,818,299 for the construction of phase three of the Parika Market, Region Three.

At the recent opening of tenders at the National Procurement and Tender Administration Board (NPTAB), it was revealed that five contractors have applied for the project being undertaken by the Ministry of Local Government and Regional Development. The contractors are: Arjune Construction Inc. $280,802,006; A Nazier Contracting & General Supplies $213,272,939; Panko Steel Fabrication & Construction $357,175,522; General Procurement & Construction $297,570,910, and Industrial Fabrications Inc. who bid $589,138,427.

The reconstruction project of the market began back in 2021 when a contract was signed between the Ministry and Val’s Construction to complete phase one of the project. The contract which was signed in mid-July that year was worth $29.2 million. At that contract signing, it was noted that the project would see the construction of 1000sq. ft. of roof with translucent sheets that would allow natural light to illuminate the market; a 300-foot concrete and steel fencing would be constructed, and the establishment of a four-chamber sanitary facility.

Section of the Parika Market under construction back in May this year. (DPI photo)

Following that contract signing, in December 2022, the ministry inked another contract worth $270 million with Panko Steel Fabrication and Construction to complete phase two of the market project. Some five months were given to complete that aspect. In February this year however, a fire erupted at the same facility destroying not only the newly built structure but market stalls around the immediate area. Panko Steel was then given additional time to rebuild the market at no additional cost to the government.

Kaieteur News understands that when fully completed the Parika Market will not only be a modern structure but a well-developed facility. As reported by the Department of Public Information, it will be a two-story market with adequate parking for up to fifty vehicles at a time. There will be improved sanitation and improved services. The new Parika Market complex is set to house 160 stalls. It will be outfitted with a food court, mobile security, and electronic surveillance in addition to being located opposite the Parika Police Station.

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Government, National Procurement and Tender Administration Board (NPTAB), Panko Steel Fabrication and Construction, Parika Market, project

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