The Vreed-en-Hoop Shore base, overseen by Director Nicholas Deygoo of VEHSI, is poised to generate significant economic opportunities for the communities in and around Region Three.
With Phase One of the project on track for completion by December this year, the artificial island of the Vreed-en-Hoop Shore Base Inc has been successfully connected to the coastline via a road.
The long-term vision for this ambitious project involves the development of the full Port of Vreed-en-Hoop, encompassing up to 800 acres of port facilities.
The initial phase, covering ten acres, is well on course to be operational by December 2023.
Subsequently, an additional 10 acres are slated for completion by July 2024, with the remaining space to be finalized by December 2024.
Deygoo acknowledged the growing demand in the Guyanese landscape and emphasized the need for increased capacity to accommodate it adequately.
The successful implementation of the project’s subsequent phases will be vital in meeting these demands effectively.
VEHSI represents the largest Guyanese private sector investment in the oil and gas industry, with the project’s total cost expected to exceed 300 million US dollars.
This remarkable endeavor is the result of a partnership between the 100 percent Guyanese-owned NRG Holdings and the Belgian company Jan De Nul.
As Phase One progresses smoothly and remains on schedule, the Vreed-en-Hoop Shore base promises to play a pivotal role in propelling economic growth and development in the region, supporting the nation’s vision for a thriving oil and gas sector.