Working People’s Alliance Party concerned about the estimated cost of the Amaila Hydro Project
On Monday the Working People’s Alliance Party (W.P.A.) said that it is concerned about the estimated cost of the hydro project. The party said that the initial cost for the hydropower plant is 1 billion US dollars. That’s three times more than the official sum made public in 2009.
The party also pointed out that the figure is two-thirds larger than the sum given in the IMF/Work Bank documents in 2010.
Economist Dr. Clive Thomas said that by the time the Hydro-Power plant comes on stream GPL consumers could end up paying close to 32 US cents per kilowatt for power.
Professor Thomas said also that 32 US cents goes against the rational that the plant could see a reduction in the current national tariff.
Professor Thomas said that Guyana’s Economy is at a tipping point now and if not handled well could run the risk of significant economic harm.