Banks DIH unveils US$13M automotive dealership and parking facility

Banks DIH Limited on Friday launched its US$13 million automotive dealership and parking facility at Plantation Ruimveldt, Georgetown. This six-storey, 208,000-square-foot building is a regional first.

The ground floor features Banks Automotive & Services Inc., a subsidiary of Banks DIH Limited, which is now the official dealer for UniCarriers Forklift trucks, Daikin Air Conditioning units, SWM vehicles, Shineray vans and buses, Sportrak tyres, and Keeway motorcycles in Guyana. Floors two through five provide secure parking for up to 350 employees and company trucks, while the sixth floor will soon house a state-of-the-art restaurant.

At the commissioning ceremony, President Dr. Irfaan Ali emphasized the importance of electric vehicles (EVs) and praised the recent zero-tax law on new vehicles and government investments in charging infrastructure. He encouraged businesses and individuals to invest in EVs and align with evolving market trends.

“The new structure reflects our country’s changing landscape and demonstrates Banks DIH’s commitment to modernization and expansion,” President Ali said. He also noted that future plans for manufacturing and product line expansion could enhance regional economic integration.

Banks DIH Limited’s Engineering Services Director, Mohamed Shabir Hussain, discussed the project’s challenges, including labor shortages, heavy rainfall, and COVID-19 disruptions, which caused an eight-month delay. Despite these issues, construction was completed successfully.

Hussain also addressed difficulties in sourcing products, revealing that many international manufacturers were hesitant to enter the Guyanese market. However, with support from Chinese partners, the company secured deals with SWM for GO1F and GO5 vehicles.

He highlighted that despite the market’s small size, Guyana imports over 12,000 used vehicles annually, showing strong demand for new vehicles. The new models come with a 10-year warranty, ensuring reliability and long-term value.

This new dealership and parking facility represent a significant investment in Guyana’s transportation future and underscore Banks DIH Limited’s role in driving innovation and modernization in the automotive industry.