$2.2B to advance construction of new Parika Terminal, slated for 2028 completion

The sum of $2.2 billion has been budgeted to advance construction of the new Parika Ferry Stelling and Waterfront Development Project, which is slated to be completed by 2028. This is according to Senior Minister within the Office of the President with responsibility for Finance Dr Ashni Singh during the presentation of Budget 2026 on Monday. He noted that this project will transform the old Parika stelling into an international port of entry and a major regional hub for tourism, agriculture and shipping. In June 2025, a contract was awarded for the first phase of the new US$20 million Parika Ferry Stelling and Waterfront Development Project. Phase one of this project includes foundation works and river defence, totalling more than $4.5 billion. Executing the first phase of works are contractors Gaico Construction, Toolsie Persaud Limited and A&S General Contractors.

Before the project design was approved, consultations were held with all stakeholders, including farmers, minibus drivers, taxi drivers, boat operators and businesses – essentially all agencies that currently operate from the area.
In phase two of the project, a marina for yachts arriving from the Caribbean and elsewhere will be established. Additionally, the entire waterfront will also be developed for entertainment and restaurants, providing tourists access to Essequibo’s rich, untapped beauty and biodiversity. The modern international port facility at Parika is one of several critical transport upgrades being implemented nationwide to support Guyana’s economic expansion, regional connectivity and tourism development. The development of the Parika port ties into the Government’s goals of positioning the country as a key expedition cruise hub destination. While regular cruises are designed for leisure and entertainment, typically travelling to popular, well-developed ports and using large ships that offer resort-style amenities such as pools, theatres and casinos, the expedition cruises focus on exploration and education, visiting remote or lesser-known destinations using smaller vessels. “We don’t have the draft for the major cruise lines. That is just a natural result of our geography. But we can accommodate the small expedition cruises,” Minister of Tourism, Industry and Commerce Susan Rodrigues had previously expressed.
To address this challenge, Budget 2026 has set aside significant sums to dredge the Demerara and Berbice Rivers. Specifically, the sum of $6.3 billion is allocated to advance dredging activities at the mouth of the Demerara River.
Overall, $11.2 billion is budgeted for the river transport sector in 2026.
Additional goals for the sector include upgrading the Charity and Port Kaituma ports to support agricultural exports and provide for more efficient river commute service.