WHEN WILL FIP FLIP THE SWITCH?

WHEN WILL FIP FLIP THE SWITCH?
Since 1996 Synergy Holdings Incorporated has been ‘working’ to bring the Amaila Hydro Project to life’. Synergy Holdings Inc is owned by overseas-based Guyanese Makeshwar ‘Fip’ Motilall and each year from 1996 Guyanese have been promised that this Hydro Electricity Project will be powered up.

Here is a recap of these promises:
In 2008 Motilall said that the Engineering, procurement and construction bids would have been closed on the 30th October, 2008 and contractors would have been identified shortly with works going into ‘full swing in the 1st quarter of 2009’.

But this laughable position was later given at another forum which was attended by His Excellency President Jagdeo. The bids were pushed back and the investors and the government agreed that giving bidders an extension of time ‘would benefit all concerned’.

What has happened since?
There was talk that Sithe Global Power would have been providing $400 million and there were eager investors waiting to pump money into this.
In 2002 Motilall was quoted as saying that the project could cost $312 and this would be obtained from private financial institutions. (NONE NAMED because NONE CAME FORWARD).

BUT in 2006 here is what we heard, ‘we are STILL AWAITING FINANCIAL CLOSURE FOR THIS PROJECT’.

While there have been talks about the project kicking off in 2010 from 1996 to now there has been a long list of promises and excuses about this project.
This 100 megawatt facility is expected to reduce Guyana’s dependency on fossil fuels. We spend more than 40% of our GDP on Fuel!

YOU TELL US WHY INVESTORS ARE NOT TUMBLING OVER EACH OTHER TO PUMP MONEY INTO AMAILA??