Tristar Inc., a company owned by Guyanese national Krishna Persaud, is in the process of acquiring an additional 300 acres of private lands on the West Bank of Demerara (WBD) to create a new West Bank Energy Park. This park would enable the company to quickly scale up operations at its West Demerara shorebase.
In a press release issued on Monday, the company said that the park is expected to create hundreds of jobs and also provide crucial social services through a training institute, a day care centre, a health centre and sporting complex.
See full press release from Tristar below:
Tristar is in the process of acquiring an additional 300 acres of privately held lands in the West Bank, Demerara as part of its ongoing investment and development in these areas. These lands are located just one mile away from the proposed site for the West Demerara Shorebase. The additional 300 acres of land will be operationally integrated with the West Demerara Shorebase and will allow tenant(s) to quickly scale up and scale down their own operations. This flexibility is important as it is expected that during this decade, activity levels in Guyana’s deepwater province will continue to expand. These 300 acres will form the basis for the “West Demerara Energy Park” which will provide services including storage and support for logistics.
The combined investment in the West Demerara Energy Park and the nearby West Demerara Shorebase will be the basis for the creation of an energy services cluster in the West Bank. Clusters have been defined by Professor Michael Porter of Harvard Business School as “…geographic concentrations of interconnected companies and institutions in a particular field”. The development of an energy services cluster will also support the development of small and medium enterprises (SME’s). Together with the gas to power project, these investments will form the basis of an energy corridor along the West Bank.
In addition, and in keeping with the principles of Corporate Social Responsibility (CSR), it is the intention of Tristar and its owner Krishna Persaud that the West Demerara Energy Park will not only create hundreds of jobs for Guyanese citizens but will provide services to the communities including a technical training institute, a day care centre for employees’ children, a health centre, and a sporting complex. These facilities will aid in enabling wider human capital development in the fenceline communities. Tristar is 100% owned by Guyanese national Krishna Persaud.
