29 Bidders Compete for $499M Parika Waterfront Development Project
The Ministry of Public Works has received 29 bids for a $499M project to enhance the Parika Waterfront in Region Three. This initiative aims to improve transportation and socioeconomic activities in the area, with completion expected by 2029.
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The Parika Waterfront Development Project, estimated at $499,041,450, has attracted 29 bidders for its construction phase, which includes an access road, drainage system, and parking apron. Notable bids include Holistic Contracting & Procurement Inc. at $501,709,100 and B.K International Inc. at $515,503,100.
The project is part of the larger Parika Modern Port Facility, a $10.5 billion initiative expected to be completed by 2029. Phase one, currently underway, involves land reclamation and sea defense work, totaling under $5 billion. This project is projected to enhance operational efficiency and transform Parika into a regional transportation hub, facilitating increased trade and tourism along the Essequibo Coast.
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