President Ramotar denies there was any secrecy about the Amaila falls Hydro project
In an address to the nation, President Ramotar spelled out all that was good about the Amaila Falls Hydro Project and why he said his Government is still committed to the project after the walkout by developer Sithe Global.
The President, on Sunday said, he was reaching out the opposition to still salvage the project, but today, he was less optimistic.
The President said Guyanese taxpayers would have only been putting in 100 million US dollars into the project, and most of that money was coming from the country’s forest-saving deal with Norway. Now he said even the Norwegian funds is in danger of being lost.
He said the total public debt for Amaila Falls is zero and this fact has been lost the most in the majority of recent media coverage.
The President did not say that if GPL fails to cough up US$100 million every year to buy the power from Amaila, then the taxpayers will have to foot the bill. In that case, it is the taxpayers, who will have to buy the electricity from GPL and then the very GPL will in turn, sell it back to the taxpayers.
But the President was more about the benefits of the project, saying that after twenty years, Amaila Falls will be 100% owned by Guyana, and is expected to last for a hundred years.
The President said he will try to convince investors to stay on and invest in this project and in this country.