Govt to approach bilateral partner for more funds to complete DiamondOgle

Finance Minister Winston JordanThe government has set aside $38.5 Billion in the 2019 budget geared towards carrying out several infrastructural projects across the country. This ranges from the 6 kilometers of road in Linden to road extension projects along the East Coast Demerara (ECD).Finance Minister Winston Jordan, during the presentation of a $300.7 Billion 2019 Budget, yesterday,  noted that this proposed allocation is an increase from the $32 Billion the ministry received last year.Minister of Public Infrastructure David Patterson said the allocation of $38.5Billion to his sector will see the continued development of roads, bridges and other infrastructure works across the country.“We will get to be more impactful, this is a launch pad, there is money in there for the new river crossing, money in there for the commencement of Linden/Lethem road…there is money in there for all my projects…so I am absolutely elated,” Minister Patterson expressed.In relation to Diamond-Ogle By-pass Road, the minister revealed that the projected cost of the project has jumped from US$50 Million to US$120 Million.He noted that Government will approach its bilateral partner, in this case the Export-Import Bank of India, for more funds to complete the project.Regarding the annulment of tenders for the new Demerara River Bridge, Jordan revealed that help has been sought from the Caribbean Development Bank (CDB). He explained that this is to revise the Expressions of Interest, in order to retender the project by this year-end.However, the evaluation of the bid proposals, a task normally handled by the Ministry’s technical staff, will be outsourced at a cost of $100 Million.Other allocations include $134 Million to execute studies and designs to rehabilitate the 72 KM Soesdyke/Linden Highway. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Related$38.5B for Public Infrastructure Ministry approvedDecember 12, 2018In “Business”Soesdyke/Linden Highway to be rehabilitatedFebruary 7, 2016In “Local News”Finance Minister presents $221B Budget to National AssemblyAugust 10, 2015In “Politics” read more