The Guyana Office for Investment (Go-Invest) welcomed on Tuesday, a $214 million investment in a cutting-edge waste treatment facility at Coverden, East Bank Demerara. This transformative project, spearheaded by Professional Waste Solutions Inc. (PWSI), represents a significant achievement for local investors. It also marks a crucial step toward sustainable development in Guyana.
The investment agreement, endorsed by Dr. Ashni Singh, Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, and handed over by Dr. Peter Ramsaroop, Guyana’s Chief Investment Officer and Agency Head of Go-Invest, underscores the government’s commitment to advancing eco-friendly industrial solutions.
The state-of-the-art facility will not only generate over 40 new jobs but will also introduce innovative environmental stewardship practices in the region. Utilizing advanced non-incinerator technology, the facility will process exploration and production (E&P) waste from the oil and gas sector and other industries, converting it into reusable oil. Additionally, the byproduct, known as ‘slag,’ will be recycled for use in blockmaking, supporting Guyana’s thriving construction industry.
Aligned with the country’s Low Carbon Development Strategy (LCDS), PWSI’s dedication to green projects is a testament to Guyana’s potential to lead in sustainable technologies. Dr. Ramsaroop emphasized the significance of this investment, stating, “This facility is not just an industrial project; it’s a reflection of our commitment to a diversified, low-carbon economy and our belief in Guyana’s ability to set global environmental standards.”
Under the leadership of CEO Mahendra Jettoo, a prominent figure in Guyana’s forestry sector, PWSI is poised to become a leader in solid waste management. The company has already secured a preliminary agreement with Guyana Power and Light Inc. to manage hazardous waste from the Garden of Eden power plant, further highlighting its capability and ambition.
PWSI is also dedicated to boosting the local economy by prioritizing the use of goods, equipment, and services from local suppliers. CEO Jettoo remarked, “Our partnership with the government of Guyana is a testament to our commitment to a cleaner, more sustainable future. “
He added, “We are not merely treating waste; we are transforming it into value, laying the groundwork for a brighter and more prosperous future for all Guyanese.”
