Guyana’s Cheddi Jagan International Airport to Get New Lease on Life

Guyana’s Cheddi Jagan International Airport to Get New Lease on Life
By Denis Scott Chabrol   

Even as the sod was turned for the construction of a more than $51 million dollar Marriott-branded hotel in Guyana, government says more airlines would be coming here and the Cheddi Jagan International Airport would be rebuilt into a major regional hub.

The sod was turned Sunday for the 197-room hotel to be located in Kingston near the mouth of the Demerara River and the Atlantic Ocean.

Addressing the simple and brief event, President Bharrat Jagdeo remarked that talks have started with several major airlines to ease international travel woes in an under-served and high-fare market.

Guyana has secured a US$138 million loan from China at two percent interest over a 25 year period in contrast to commercial rates. Government expects that revenue from the expanded services at the Cheddi Jagan International Airport repay the loan.

The project would entail the filling of a ravine, the extension of the runway by another 3,500 feet, the availability of eight air-bridges and a duty-free area. “It will be a world-class airport for Guyana,” he says.

Head of the Privatization Unit, Winston Brassington said Republic Bank Limited would provide the majority of the debt-financing to the tune of US$27 million and government would be a minority shareholder.

China’s state-owned Shanghai Construction Group would build the hotel that would include a large ballroom and conference centre, a 14,000 square foot casino, a 6,400 square foot casino and an 8,300 square foot restaurant.