Once regulatory approval is received from the Environmental Protection Agency, a Guyanese-Canadian Group will commence construction of a massive $2B plaza at Vreed-en-Hoop. The facility could create employment for over 500 persons during its construction and operational phases.
Speaking briefly with Guyana Standard this morning, one of the developers withinthe GUY-CAN Investors Group Inc., Rajesh Willie said the plaza is being pursued as Vreed-en-Hoop is set to become of one of the central hubs in Guyana’s oil transformation story.
“We would like to ensure that we have services that would meet the needs of the people because the investments taking place now on that side, we will see over a short period of time, how Vreed-en-Hoop will become a transit point,” Willie said.
According to project documents seen by this news agency, the plaza will operate under the name Spectrum which will consist of eight buildings with different purposes. The plaza will be located at Lot 14 Coglan Dam, Vreed-en-hoop, WCD and within five minutes’ walk to the busy Vreed-en-hoop shopping area and the US$300M Vreed-en-Hoop Shore Base currently in construction mode.
Guyana Standard understands that the GUY-CAN shareholders will invest $2B over a period of time for the entire project. The plaza is expected to be done in phases over a period of 4 years. Shareholders are eyeing an annual turnover of $300M once the plaza is up and running.
