$10 billion investment set to transform Palmyra

A new sports stadium, housing projects, hotels and a hospital are among the developments set for Palmyra, Region Six (East Berbice- Corentyne) and President Dr. Irfaan Ali believes about $10 billion will be spent this year to push the community’s transformation.

“By March, we will have a number of the private sector projects started and a number of the government projects,” President Ali said on Thursday night when he visited Palmyra.

He added, “We are looking to have this first 500 acres completely transformed in the next five years”!

And importantly, he highlighted that both public and private investments should amount to about $10 billion.

It is already known that the government will construct a new sports stadium and at least 700 houses. Private investors are pursuing a new hotel and possibly, a gated community.

Some preliminary infrastructure works started already. Moreover, a new call centre and centre for persons with disabilities are under construction and would soon be completed.

Last year, Vice President Dr. Bharrat Jagdeo said the government would be using former Guyana Sugar Corporation (GuySuCo) lands for the Palmyra development.

And he explained that Palmyra is set to become a business hotspot for Berbice.