by STAFF WRITER
May 12, 2022
GEORGETOWN, Guyana, May 12, CMC – Guyana has welcomed the establishment of a US$40 million company, Pipe Coating Guyana (PCG) Inc. that it says will tap into the oil and gas industry and create at least 450 jobs.
The company is a joint venture between a local concern and two foreign partners, and Minister within the Ministry of Public Works, Deodat Indar, addressing the launch on Wednesday evening, said the recent passage of the Local Content Legislation is paving the way for such businesses.
He told the ceremony that with the pipe coating company here in Guyana, it will drastically reduce the cost for such products while at the same time building the technical capacity of Guyanese.
“Guyanese will benefit from this and the technical transfer of how to do pipe coating will transfer overtime and I hope faster than slower.
“Here is it, a prime example of what local content and what the Local Content Legislation is driving in Guyana. It is really delivering prosperity to everybody, but you cannot sit on your hands, it is not the time for that. Guyana as you all know, I do not have to remind you all, we are at a place where we have the largest economic growth projections, 47.5 per cent gross domestic product rise in a single year,” he added.
Indar said Guyana is moving in a direction that will ensure that every Guyanese benefits from the oil and gas sector.
PCG Inc, director, Narain Tulshi said from the time the Local Content Legislation was conceptualised and passed, the challenge was accepted to take advantage of what the government was presenting to Guyanese.
“The 450 jobs to be created from this venture will add to the thousands that have already been created by the local partners throughout Guyana. We are committed to proving employment and ensuring that out people benefit from the opportunities in this new petroleum economy.”
The company will be receiving pipes for coating out of Brazil and PCG Inc. is expected to have the capacity to coat about 80 pipes daily, with the officials indicating that coating provides a constant protective lining that helps save pipelines from the damaging effects of corrosion.