Paramakatoi residents to own quarry in landmark deal

Residents of Paramakatoi and its surrounding villages in Region Eight (Potaro-Siparuni) are set to gain full ownership of a local quarry under a transformative development-to-ownership initiative.
The contractor, who has invested $400 million in the quarry, will manage operations alongside the community for the first five years while training residents in quarry management, after which the facility will be entirely handed over to them.
President Dr Mohamed Irfaan Ali, speaking at the commissioning of an airstrip in the region on Monday, said: “In five years, the quarry will be handed over to the people of this area.” He highlighted the significance of empowering communities in hinterland development projects.
For decades, infrastructure projects in the hinterland often involved outside contractors completing short-term works and leaving behind only asphalt and concrete. This new model ensures long-term benefits and provides residents with both skills and ownership.
The initiative also complements a broader push to invest in human capital: 1,500 residents have been employed by the government for road construction, while 2,000 others from rural communities have received specialised construction training. The policy aims to have community members carry out hinterland projects, creating jobs, developing skills, and contributing to national development. (DPI)