Tapping into the emerging oil and gas sector, gold magnate Nazar ‘Shell’ Mohamed has made a big investment in a storage facility at Mc Doom on the East Bank of Demerara which is expected to serve ExxonMobil’s current offshore works.
Commissioned today, Mohamed told Stabroek News that he invested heavily to transform the marshy and abandoned area into the now developed, industrially-zoned `laydown’ yard it is today. Named Falcon Logistics Incorporated, Mohammed inked an agreement to have an ongoing lease with two companies over a five-year period.
It is expected that sixty jobs would be created with that figure divided equally between locals and foreigners. And with most of the work being done using machinery, as it would require “lots of heavy lifting that doesn’t require manual labour”, Mohamed underscored that the project was a capital and not labour-intensive one.
