Local dry-docking company, Guyana Port Inc. (GPI) is forging a strategic partnership with Ghanaian dry-docking firm, PMD Offshore Limited to expand its operations. Spearheaded by Pritipaul Singh Jr, Managing Director of GPI, the joint-venture aims to address the escalating demand for ship repair services, particularly driven by Guyana’s burgeoning oil and gas sector.
In a recent episode of the Energy Perspectives Podcast, featuring an interview with the Chief Executive Officer (CEO) of the Guyana Energy Conference and Supply Chain Expo, Kiana Wilburg, the Managing Director of GPI unveiled plans for collaboration with the Ghanaian entity. Central to the initiative, Singh Jr said, is a substantial investment of approximately US$5 million allocated for dredging activities.
“…So dredging is the first aspect. Guyana has such shallow waterways (and) we have to create the capacity for that to happen…,” he explained.
The proposed dry dock facility boasting a lifting capacity of 5,000 gross tons represents a significant advancement in infrastructure and is poised to enhance Guyana’s maritime capabilities. “So it’s twice as much as we can do now in terms of vessel size. It’s better for us to get it right now because (we are) scaling up into a bigger dock,” Singh Jr noted.
The Managing Director also outlined a comprehensive plan which aims to leverage local expertise and resources for the construction of the facility entirely within Guyana.
With an estimated cost of approximately US$35 million (GYD$7 billion), the initiative is slated to unfold over an 18-month timeline, with a blend of debt financing and private equity injections driving its realization.
“So it’s a mixture of many different spices to get the pot going,” Singh Jr added. He also underscored the importance of meticulous planning to ensure a seamless transition and optimal service delivery for clients, including existing partnerships with oil and gas operators.
Moreover, Singh Jr. highlighted that since its establishment in 2019, GPI has been delivering a comprehensive array of services tailored to both local and international markets, with a particular focus on the ship repair sector. These services encompass blasting, painting, mechanical and electrical repairs, hydraulic system maintenance, and propulsion system overhauls.
He also revealed that the company presently boasts a workforce of 90 employees, with plans underway to augment its human resources as the new service and dry-docking facility come into operation.
