Falling oil prices put the Government in a difficult situation, economist Dr Ronald Ramkissoon said yesterday. Commenting on the decision by OPEC not to reduce output, he said: "An oil economy must
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Guyana leader urges support for power project
GEORGETOWN, Guyana—President Donald Ramotar yesterday appealed for an end to partisan politics surrounding the Amaila Falls Hydropower project. In a release, the president said although the United States based investor, Sithe Global has pulled out of the project, there is still a window of opportunity and he has spoken with Opposition leader David Granger urging the support of APNU (A Partnership for National Unity).
It was APNU’s non-support of two Amaila matters in parliament last week that led to the developer, Sithe Global quitting the project. “Early this morning, I spoke with the Leader of the Opposition, Mr Granger, and urged him once again to join me in showing support for the Amaila Falls project, for our country’s future development and for the life opportunities of generations of Guyanese.
I will try to continue this engagement with Mr Granger in the hours ahead, and I told him that my door remains open, as it always has been,” said Ramotar.
Sithe Global says it will go ahead with its US$150 million investment in the US$850 million hydropower plant but only if all political parties in parliament support the project. The New York-based firm wants the APNU to support the project, but the party maintains that the country would be taking a risk by investing in the hydropower plant.
Ramotar said: “The debate about Amaila is not helped by the volume of uninformed speculation that has been visible in recent weeks, despite two opportunities to debate the project in Parliament, and the public availability of information over many months.”
According to the president: “Decisions on matters such as this—which are so important to our country’s future—should be based on facts, and not made as a result of speculation or political partisanship. All our political parties know that they have been equipped with the information they need to reach a decision on Amaila Falls.”
The president stated that if the hydropower project is implemented, the cost of electricity will be reduced by at least 20 per cent within two years of commercial operation and reduce the country’s dependence on foreign oil.