RITES Ltd. wins contract to build roads in Caribbean nation Guyana

The construction of the 7.8 km road will start very soon and the whole project will take around 24 months to be completed. RITES will be overlooking the construction and will ensure that all standard protocols have been followed.

Now two Indian companies including one from the private sector and another from the public sector have bagged the contracts in a transparent competitive process.

Indian Public Sector Enterprise firm – RITES Ltd and Guyana’s Ministry of Public Works have signed a contract worth USD 3.2 million for the construction of the Ogle to Eccles four lane road link.

In the contract which was signed in the capital city Georgetown, Guyana, the four lane road link will start from the intersection of the Rupert Craig Highway. It includes the Ogle airstrip road to Haags Bosch, and Eccles, on the East Bank of Demerara (EBD).

According to the Indian High Commission, RITES won the contract in an open international bidding process and the actual construction activity will be done by another India based Ashoka Construction Company. Financial Express Online has reported recently that this company won the USD106.4 million contract which was signed on June 24, 2022.

Role of RITES

The construction of the 7.8 km road will start very soon and the whole project will take around 24 months to be completed. RITES will be overlooking the construction and will ensure that all standard protocols have been followed.

Following the road construction, RITES was awarded the contract for 34 months – period for defects liability.

Now two Indian companies including one from the private sector and another from the public sector have bagged the contracts in a transparent competitive process. As reported earlier, this project includes a USD50 million concessional Line of Credit commitment from the Indian Exim Bank under Indian Development Partnership Assistance.

India expands its presence in Guyana

Caribbean island nation is part of CARICOM nations with which India has increased its engagements. In 2019 the first ever India-CARICOM summit took place on the sidelines of the UNGA in New York.

“This island country is home to almost 40 percent of the Indian Diaspora which reached there in the 19th Century,” said Indian High Commissioner Dr KJ Srinivasa.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Most Read In Railways
Photos