GNSC opens new $126M warehouse

-Jordan urges company to seek partnerships to address financing deficit

Minister of Finance Winston Jordan (at centre) cutting the ribbon to officially commission the warehouse along with Managing Director Andrew Astwood (right)

The Guyana National Shipping Corporation (GNSC) officially opened a new $126 million state-of-the-art warehouse yesterday and Minister of Finance Winston Jordan used the occasion to urge the company’s leadership to seek partnerships in order to surmount its “critical deficit of financing.”

The new warehouse, located at Lot 1 Lombard Street, Georgetown, is part of a five-year modernisation plan.

Speaking at the commissioning, Jordan said that while the corporation is ideally situated and commands significant assets, it has no money to implement the “game changing” projects that can exploit the known advantages. “I, therefore, urge you to seek out partnerships to overcome this critical deficit of financing. On the government’s part, we have floated public-private partnerships. We are in active discussions with the European Investment Bank for some time now on a proposal which we will hope to see will result in your wharf being done,” he said…..

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