GWI rakes in over $4B, projects $5.8B revenue for 2019
The Guyana Water Incorporated (GWI) has earned in excess of $4B in 2018, an increase of 10% from its $3.6B in 2017.
Speaking at the company’s end of the year press conference on Monday, Managing Director of the company, Dr. Richard Van West-Charles credited the increased revenue to a more intense approach to revenue collection.
As a result, the sum owed to the company by defaulters has reduced from $5.2B to $3.6B.
In August of 2018, Nigel Niles, GWI’s Director of Corporate Services and Company Lawyer, had said there are over 1000 customers who owe in excess of $100,000 each and the company took legal actions.
Additionally, in October 2018, the company implemented increased tariffs of $250 approved by the Public Utilities Commission.
The funding from the increase will go towards “addressing some of the gaps in the network and improvements of the network…throughout the country. Some of the resources, if not all, will apply to areas such as Soesdyke, Crabwood Creek, Phase three in Providence, Farm, Covent Gardens, Bush Lot, Skull City in Region Three and Good Intent among others,” Dr. Van West-Charles said.
In 2018, the company also procured 14 motorcycles, eight canter trucks, one crane and one computerized truck for Well maintenance and monitoring to become more self-sufficient.
Previously, the company contracted cranes and majority of its transportation.
For 2019, the company is forecast to earn $5,849 billion dollars.
Among its plans is the acquisition of its own rigs so GWI can drill its wells. To facilitate the usage of the equipment, the company has already trained its staff this year. One of the rigs will be sent to the hinterland region while the other will be used on the coast.
Dr. Van West-Charles said the company will be investing in the maintenance of its transmission lines, water treatment plants and drilling of additional wells to improve its water supply and quality.
The company is also moving to introduce more technological equipment into its operations with the launch of a Knowledge Tools Unit under Information and Communications Technology (ICT).