Export of pre-fab houses could maximise Guyana forestry revenues in Guyana

Upon the launch of the 1000+ modular homes, Managing Director of DuraVilla Homes, Rafeek Khan is realising his venture of a ‘God-sized vision,’ to which it is anticipated that the export of wooden houses can help Guyana earn some US$60 million annually from the forestry sector. Khan’s 1000+ modular homes project offers pre-fab timber houses available to local and regional buyers. At this time, the Government of Barbados has procured 100 houses, while St. Vincent and the Grenadines is procuring another 50 houses. Khan’s venture will see value creation through the production of timber products arising from the existing forestry value chain. The primary outcome from this, is to maintain and further build capacity in Guyana’s forestry export ratio which remains relatively lower. According to Khan, “… less than one per cent of our forest is allocated to the production of timber resources. And of that one percent, we are only [using] a third of it.” In adding capacity, it is believed that Guyana can continue to incorporate environmental and social governance through responsible use of our forestry and timber resources. With assurance, Khan stated, “We could double Guyana’s exports by the time we close this year.” This is supported with Guyana’s industry earnings having been accumulated to US$34.5 million from forestry exports at the end of 2022. DuraVilla Homes is estimated to drive this increase to US$60 million at the end of 2023.

Source(Newsroom, Image: Newsroom)

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10 Feb 2023 15:30 | by anaraine

| Construction, Engineering and Transportation