Nicholas Deygoo-Boyer and Andron Alphonso are two exceptionally gifted and brave Guyanese entrepreneurs who saw a gap in Guyana’s oil and gas sector and decided to participate and invest in this $600 million USD project. This is the most significant investment in Guyana’s oil and gas sector undertaken by these two Guyanese business executives. New young business promoters in Guyana regard Nicholas Deygoo-Boyer and Andron Alphonso as role models to emulate.
The ambitious Port of Vreed-en-Hoop project in Guyana represents a monumental stride in the country’s oil and gas sector, spearheaded by the visionary minds of two enterprising businessmen: Andron Alphonso of ZRN Investment Inc. and Nicholas Deygoo-Boyer of National Hardware Guyana Limited. This transformative endeavour transcends the conventional expectations of a mere shore base facility, as it encompasses creating a sprawling commercial port and an expansive industrial area sprawled across 400 hectares of prime land at Foreshore, Plantation Best, West Bank Demerara.
It is important to emphasize that the President of Exxon Mobil, Mr. Alistair Routledge, is instrumental in making this deal a reality, thus supporting a local content policyholder in Guyana. Credit must be given to Mr. Alistair Routledge for his dedication in helping this momentous deal.
Nicholas Deygoo Boyer is a former Georgetown Chamber of Commerce & Industry President and National Hardware (Guyana) Limited Group of Companies Director. He returned from Washington D.C to join the family business in 2010, working with Wells Fargo Bank N as a mortgage-backed Securities Analyst and for Valuation Services Inc. as an Associate. He is also a founder of Guyana Oil & Gas Support Services Inc., a welding & fabrication startup in the Guyanese Oil and gas industry. This startup could be seen as a contribution to the industry as it provides support services to Guyana’s oil and gas sector.
At the helm of this groundbreaking initiative is NRG Holdings Inc., a 100% Guyanese-owned consortium that has emerged as the driving force behind the development of the Port of Vreed-en-Hoop. This strategic venture is not merely an infrastructural project. Still, it embodies the spirit of Guyana’s Local Content Policy, aiming to ensure its citizens stand at the forefront of reaping the benefits of their invaluable national patrimony.
The grand scope of the Port of Vreed-en-Hoop is underscored by its commitment to elevate the standards of the emerging oil and gas sector. With a colossal investment of up to US$600 million, the facility is poised to be a game-changer in managing and operating the burgeoning industry, catering comprehensively to its diverse needs.
One of the standout features of this transformative project is its potential to revolutionize shipping costs. Through a meticulous study conducted by NRG Holdings Inc., it has been revealed that the Port of Vreed-en-Hoop can reduce shipping costs by a significant 10%. This revelation, particularly noteworthy given the global challenges posed by the COVID-19 pandemic and geopolitical events like the war in Ukraine, translates into tangible benefits for the average Guyanese individual.
Nicholas Deygoo-Boyer elucidates on this point, emphasizing that the commercial shipping facilitated by the Port of Vreed-en-Hoop directly impacts people’s daily lives, resulting in lower shipping costs. In a world where every percentage point matters, a 10% reduction in shipping costs resonates across the spectrum of imported goods, offering relief on groceries, bills, and various commodities.
The genesis of this transformative project lies in Guyana’s predicament of facing the “most expensive per unit cost for importing,” primarily attributable to the absence of modern port facilities equipped with cranage ability and deep channels for larger vessels. The initial phase of the Port of Vreed-en-Hoop addresses this critical challenge by focusing on widening the access channel, spanning approximately 100-125 meters across and 7-10 meters deep, and dredging the port basin and berth pockets. Subsequent phases will witness further widening and deepening of the access channel to approximately 10-12 meters deep, ensuring the facility’s capacity to accommodate larger vessels.
In addition to its pivotal role in reducing shipping costs and enhancing import efficiency, the Port of Vreed-en-Hoop incorporates the Vreed-en-Hoop Shore Base Inc. (VEHSI), a particular purpose vehicle tailored to serve ExxonMobil’s Yellowtail project. This project facet is realized through a strategic partnership between NRG Holdings and the esteemed Belgian engineering and construction firm Jan De Nul.
Beyond its immediate operational focus, the Port of Vreed-en-Hoop is poised to become a comprehensive hub, featuring areas designated for waste management/effluent treatment plants, environmental services, lodgings, mud plant, logistics, and even earmarking space for a potential helipad. With additional wharves, berths, and a dry dock, the port is envisioned as a multifaceted facility contributing significantly to Guyana’s economic and infrastructural landscape.
Recent developments mark significant milestones, with the Vreed-en-Hoop Shore base Inc. welcoming the M.V. Virtuous Striker, the first commercial vessel to dock at the man-made island. With cargo exceeding 26,900 metric tonnes, this vessel symbolizes a triumph for the 44-acre facility and a giant leap toward operational readiness.
Nicholas Deygoo expresses pride in this achievement, which propels them closer to total functional capacity. The Vreed-en-Hoop Shore base Inc., a joint venture between NRG Holdings Inc. and Jan De Nul, is a testament to international collaboration converging with local ingenuity.
In conclusion, the Port of Vreed-en-Hoop is not merely a maritime infrastructure project; it is a visionary undertaking that promises to reshape the economic landscape of Guyana. Beyond its strategic importance in the oil and gas sector, the port is positioned to alleviate the financial burden on citizens by reducing shipping costs and fostering a more efficient import ecosystem. As the project unfolds and achieves operational milestones, it is a testament to the transformative power of collaborative vision and strategic planning.
Nicholas Deygoo-Boyer and Andron Alphonso have created a landmark in Guyana’s business history. They have achieved the impossible in Guyana mainly because many established business entities in Guyana are reluctant to invest in new ideas and projects. Both Nicholas Deygoo-Boyer and Andron Alphonso think otherwise. For them, “Nothing is impossible if you put your mind to it.” Both these Guyanese business entrepreneurs accepted the challenge, and the Vreed-en-Hoop shore base project has become a reality in Guyana and the world.
Vedan Choolun, London, UK