Onverwagt prawns project to rake in $1.5B by year end

The major prawns project launched at Onverwagt in Region Five is expected to generate $1.5 billion by the end of 2025.

This was announced by President Dr. Irfaan Ali, who was speaking at the People’s Progressive Party/Civic (PPP/C) rally in Bath, Region Five, today.

Ali said the government will allocate more resources to boost production, with young people in the region set to be the main beneficiaries.

“We are going to grow that project within three years to turn over annually $6 billion, but more importantly, we are going to hand that project over to the young people of Region Five so you can earn it,” Ali said.

The initiative is part of a series of agriculture projects introduced over the past five years to help cut CARICOM’s food import bill. Other ventures include the Black Belly Sheep project, cage fishing, the Brackish Water Shrimp project, hydroponics, and shadehouse cultivation.

Guyana is currently the only self-sufficient country in the region, according to a recent report. (DPI)