A Partnership for National Unity (APNU) today urged the Government to carefully consider the formula it will use as it seeks complete acquisition of the Berbice River Bridge.

At a press conference today, APNU Member of Parliament, Saiku Andrews, said it will make little financial sense to purchase the Bridge one year before it is scheduled to be handed over to the state.

If however, the Government goes ahead with the deal, MP Andrews said the Government must ensure that it is not saddled with maintenance and other overhead costs which are currently being carried by the bridge company.

“It makes no sense we purchase a bridge in 2026 which is supposed to come to us free in 2027 and we are saddled with all the maintenance cost that the bridge company is obligated to honour. So we have to consider all of those and come up with a buy out price, that could be a prudent approach and if that is the approach we can receive value for money,” Andrews noted.

The Berbice River Bridge, which was commissioned in 2008, is managed by the Berbice Bridge Company Incorporated, through a public-private partnership.

The National Insurance Scheme (NIS), the National Industrial and Commercial Investments Limited (NICIL), Hand-in-Hand, New GPC, Queens Atlantic Investment Inc and Secure International Finance are the companies that all have shares in the Bridge.

During a question and answer session earlier this month in Parliament, Minister of Public Works, Juan Edghill noted that the Government was locked in negotiations to fully acquire the bridge. He said the outright purchase may be less than the costs that the Government has been saddled with since making the the bridge crossing toll free.

But Andrews said that model can be flawed if certain considerations are not made.

“If they do pursue it then it cannot be that we pay for the Berbice bridge by anticipating a percentage in bridge traffic and calculate that and subsidize that over the next two years. We cannot take that approach. We can take a discount cash analysis approach in buying the Berbice bridge where we consider the net cash value over two years and you also have to factor in the maintenance schedule that the Berbice bridge is obligated to adhere to,” Andrews pointed out.

As the Government seeks the total takeover of the current structure, the Ministry of Public Works has already invited pre-qualification submissions for contractors to design, build and finance a new structure across the Berbice River with nine companies being shortlisted in 2025.

The initial list of pre-qualified bidders included four Chinese companies, three from India, one Canadian company, and just one local company.

Related posts:

Government in negotiation for complete purchase of Berbice River Bridge Government wants greater role in operations of Berbice River Bridge; President promises toll reduction Govt. take over of Berbice Bridge is Legal. -Chief Justice rules Government to introduce river taxi for Berbice river as bridge company still to reduce tolls