Paramakatoi residents to become owners of $400M quarry in landmark empowerment project

President Dr Mohamed Irfaan Ali has unveiled a transformative community empowerment project that is set to benefit the people of Paramakatoi and its satellite villages in Region Eight (Potaro-Siparuni).

The president announced that the founder of International Import and Supplies, the company responsible for the impressive $799 million expansion of the Paramakatoi airstrip, has made a significant investment of $400 million in a quarry within the area.

According to the head of state, the contractor will work with the community to manage the quarry in the first five years and is legally obligated to train residents in the management and operations of the quarry, after which they will have 100 per cent ownership.

“In five years, the quarry will be handed over to the people of this area,” President Ali announced to resounding rounds of applause at the commissioning ceremony on Monday.

For decades, infrastructure projects in the hinterland were characterised by outside contractors coming into communities for short-term projects and leaving behind asphalt and concrete. This innovative development-to-ownership model effectively tackles that issue.

“This is a type of partnership that are long lasting, the type of partnership that involves the private sector, government and the people. And it’s the same partnership we want in the aviation sector,” the president urged.

President Ali emphasised the investment in human capital, with 1,500 residents hired by the government for road construction. Furthermore, 2,000 residents from rural communities have received training in specialised construction.

The president’s new policy aims to have community members carry out hinterland projects to help them acquire skills, create job opportunities, and support national development (Republished from the Department of Public Information)