NRG Holdings Inc., a 100-percent Guyanese-owned consortium comprising Hadi’s World Incorporated, National Hardware Limited and ZRN Investments Incorporated, has disclosed its US$600M Vreed-en-Hoop Port project will be ready in three years’ time.
The consortium said the facility will occupy some 400 hectares of coastal land and is expected to be a catalyst for employment and business opportunities for Guyanese. The consortium revealed that it has since partnered with Jan de Nul Group, a Belgian engineering and construction firm that offers marine services, offshore service, civil engineering, environmental management activities and project development.
Managing Director of National Hardware, Nicholas Deygoo-Boyer recently highlighted the importance of such a facility to Guyana’s economic development.
He said, “A majority of the work in the oil and gas industry is not happening in Guyana, and the reason it’s not happening in Guyana is because we don’t have the facilities.”
Deygoo-Boyer, a Director of NRG Holdings, said that a significant amount of the services to the local oil and gas sector is being provided from other countries, such as Trinidad, due to the lack of facilities. He said the port will therefore allow for those services to be provided from Guyana.
During a recent consultation process with residents in communities near the project site, Deygoo-Boyer said it was explained that the first phase of the project is an oil and gas shore base, followed by a commercial port.
“What we are going to do is take the business from the oil and gas industry but bring the benefits down to the average person.” Among some of the benefits expected are the reduction of shipping costs by up to 15 percent and income-generating opportunities. “When we conceptualised this, we did not put services that you in the community can sell to us—food, housing, groceries…” he said, adding that 220 persons will be needed during the construction phase.
NRG Holdings Inc. received an environmental permit from the Environmental Protection Agency for the project. As part of that permit, they are required to do an Environmental and Social Management Plan (ESMP). An Environmental and Social Impact Assessment (ESIA) is also required by the Financial Lenders. In this regard, data collection—which includes the community engagement— is being conducted by Coastal Dynamics Limited (CDL).
