Guyanese remigrant supporting local construction boom with $600M sand/loam mining pit

Aug 02, 2022 News

Kaieteur News – Guyanese remigrant, Charles Nedd is set to develop a sand and loam mining pit valued at some $600M to support the growing construction industry.

In a public statement, the founder and Chief Executive Officer (CEO) of Tradewinds Enterprise Inc. said that the company has recently received authorization for the development of the project and is set to be fully operational by next year.

The CEO described the upcoming project as another development success for Guyana coordinated by the Ministry of Natural Resources. He said that after an application process spanning multiple years, the Trade Winds Inc. has successfully obtained a license from the Guyana Geology and Mines Commission (GGMC) to operate a sand pit to mine sand and loam in Region 3.

Nedd, a United States based Guyanese businessman is said to have returned to Guyana to invest up to $600 million to operationalise the modern Sand and Loam mining operation located in the vicinity of the Hubudebu River and Labba Creek, in Region 3.

“We are excited for this opportunity to invest in Guyana and will soon get started with our feasibility study to determine the most efficient and sustainable operational processes,” the CEO highlighted. He submitted that, “our intention is to be in full operations by 2023, and to be able to meet the increasing demand for sand and loam, especially for customers in the fast-developing Region 3 infrastructure sector, also, we anticipate that we will eventually hire approximately 30 Guyanese to fully staff the operations.”

The CEO said that Tradewinds Enterprises Inc. is convinced that the residents in Region 3 and the entire country will benefit immensely from the proximity of its operations in the region. The company will eventually seek to develop other value-added products for international markets, the statement said.