CGX Energy, through its wholly-owned subsidiary, Grand Canal Industrial Estates (GCIE) announced recently that its Berbice Deep Water Port which is currently under construction, will involve investment in the range of US$130M. The project targets full operation of the oil and gas support base in early 2022 and full operation of the cargo terminal aspects of the port in 2023.
Further to this, the company disclosed that its engineering designs, permitting, marketing and ongoing civil works are all on schedule to meet these targets. The Port, which is located adjacent to Crab Island on the Eastern Bank of the Berbice River, is 4.8 km from the Atlantic Ocean.
GCIE expects that the Port will significantly boost local content engagement in the oil and gas sector and add enhanced logistics capacity for import and export, including expandable capacity to accommodate the possibility of increased product flow to and from the southern states of Brazil. Due to its location close to Suriname, the Port’s oil and gas support functions will also help to serve the rapidly growing offshore exploration and development activities in that country’s oil and gas sector.
The company said too that the port will add significant capacity to the agricultural sector, supporting rice, sugar, agro-processing and agricultural materials.
GCIE expects that during the construction phase, approximately 1,000 individuals will be directly employed, with approximately 300 full time employees engaged in the long-term operations of the port.