Gov’t to seek loan to build Corentyne River Bridge – Jagdeo

Jan 12, 2025 News

---

Kaieteur News– With a contractor already identified to execute the construction of the Corentyne River Bridge, the Government of Guyana is set to acquire a loan to finance the bridge project, Vice President Bharrat Jagdeo said.

Jagdeo at his last press conference held at Freedom House, Robb Street, Georgetown, said that Guyana is ready to fund its share of the project.

Asked by reporters about the source of Guyana’s financing for its 50 per cent of the total cost of the project, the Vice President said, “We can acquire the loan, it would be a loan, it’s a loan. It could be from China but it could be from any other source.”

The Vice President added that already they have explored several potential financiers for the project.

Noting the country’s readiness in moving forward with the project, Jagdeo told the media on Thursday that Guyana is now waiting on Suriname.

“We are at a stage now where the parties have to come to the table to say we can come up with our share of the money, we are prepared to make that commitment now and we can raise our share of the resources swiftly and once the other side can do that then the project can move fast,” he said.

As reported previously, the Corentyne River Bridge, is a project being undertaken by the governments of Guyana and Suriname and is set to link the two countries.

“Well signing the line presupposes that the other partner will be able to raise their money too, we can raise our own money, swiftly. We have already done a lot of ground work on this, we can raise our share of the project swiftly,” he explained.

Jagdeo reminded that this is a joint project with Suriname and that both countries are going to share the cost and have great benefits.

“We will get a ton of our exports into Suriname and if we do our deep-water harbour, I think we will be able to capitalize, (and) repay this loan with great ease once we do the deep-water harbour in the Berbice area,” he stated.

Kaieteur News reported that the construction of the Corentyne River Bridge between the two South American nations will be executed by China Road  and Bridge Corporation, a construction firm from China.

China Road and Bridge Corporation was among three bidders that submitted proposals to the National Procurement and Tender Administration Board (NPTAB) office last year. At that opening, it was revealed that Ballast Nedam Infra Suriname bid US$325,400,000 for the contract, while China Road and Bridge Corporation bid US$236,173,962. Another Chinese company – China Railway Caribbean Company Limited also submitted a bid but the amount was not listed.

According to media reports, governments of Guyana and Suriname had requested funding from China for the project and are still awaiting approval.

In a Department of Public Information (DPI) article published in July 2024, Minister of Public Works Juan Edghill was quoted stating, “We have gone through the full tender process, we have a preferred contractor at the end of an evaluation process and both governments have agreed to approach our partner, the Republic of China to finance the project.”

He disclosed then that Suriname’s President, Chandrikapersad Santokhi had visited China, carrying a letter signed by himself and President Irfaan Ali to solidify the financing agreement.

The Ministry of Public Works said the bridge will span the Corentyne River from South Drain in Suriname to Moleson Creek in Guyana, and is slated to have a life span of 100 years.

In May 2022, the consultancy assignment for the Feasibility Study and Detailed Designs for the Construction of the bridge was awarded to WSP Caribbean, amounting to US$2 million. The assignment included various works such as topographic assessment, hydraulic and hydrographic studies, traffic demand analysis, financial and economic evaluation, environmental assessment, and the preliminary design of the bridge and roads.

The bridge will span approximately 1,100 metres in length with 22 spans measuring 50 metres each. The sub-structure will be designed to withstand minor vessel impact. The carriageway is expected to span around 10.05 metres, accommodating two lanes under regular conditions and three lanes during emergencies or controlled situations.

Additionally, the bridge will feature utilities inside the box girder, which will include an inspection path width of 260 metres, among other features. The infrastructure project holds immense potential for fostering economic growth, strengthening regional integration, and improving transportation links between the two neighbouring nations.

(Gov’t to seek loan to build Corentyne River Bridge – Jagdeo)

---

• borrow loan, build bridge, Corentyne River Bridge, Guyana and Suriname, Vice President Bharrat Jagdeo

---