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Cost of crossing privately-owned Berbice Bridge to be made cheaper – Pres. Ali
The Berbice River Bridge
Kaieteur News – The Government of Guyana (GoG) will be engaging with the investors of the Berbice Bridge Company Inc. (BBCI) to formulate a plan to allow the government to play a greater role, aimed at making it cheaper to cross the bridge.
President Irfaan Ali
The announcement was made on Sunday by President Irfaan Ali during his address at the sod-turning for the US$161 million modern hospital in New Amsterdam, Region Six (East Berbice-Corentyne).
The bridge connects Region Five (Mahaica-Berbice) and Region Six (East Berbice-Corentyne), facilitating vehicular traffic.
Although specifics were not revealed, Ali emphasized the government’s intent to collaborate closely with the Berbice Bridge investors.
He said, “We are in the process at the policy level of formulating a plan to work with the investors in the Berbice Bridge to have the government play a greater role because we have to carry the maintenance cost and all of this is aimed to make it much easier and cheaper for you cross the Berbice Bridge.”
He continued, “That is coming very soon.”
The Berbice Bridge, which was constructed between 2006 and 2008 at a cost of $8 billion, received financial backing through loans and equity contributions from various entities, including the state-run National Insurance Scheme (NIS) and private investors.
It must be noted that despite the fact that the bulk of the money invested in the Berbice Bridge came from state-run NIS, Dr. Ranjisinghi ‘Bobby’ Ramroop, an associate of the Vice President, Bharrat Jagdeo is the largest shareholder.
Sharing ownership percentages, National Industrial and Commercial Investments Ltd (NICIL) holds 10 percent, NIS owns 20.2 percent, and other stakeholders include Hand-in-Hand Fire Insurance (10 percent), New GPC (20 percent), Queens Atlantic Investment Inc. (20 percent), and Secure International Finance Co. Limited (20 percent).
Moreover, during his address on Sunday, President Ali disclosed that the government is accelerating its plans to have a fixed high crossing bridge, across the Berbice River.
“We are already understanding for the future needs of this region. That is why we are accelerating the plans for a fixed high crossing bridge across the Berbice River just like the one in the Demerara River,” Ali said.
The president first made the announcement of a new Berbice river bridge in October 2022. At the time he was addressing the gathering at the Berbice Expo and Trade Fair.
Additionally, he shed light on collaborative efforts between Guyana and Suriname for a bridge across the Corentyne River, signaling the finalization of the contract between the two nations.
“We are now in the final process of signing the contract between Guyana and Suriname,” he noted.
- Bharrat Jagdeo, East Berbice Corentyne, New Amsterdam, President Irfaan Ali, Region Six, The Berbice River Bridge
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