Good news for economy
In a matter of months, Barbados could see a push in terms of a number of capital works projects, both on the side of Government and the private sector that should help to stimulate growth in the economy.
This is according to Minister of Finance and Economic Affairs Chris Sinckler, a mere five weeks into the 2014-2015 fiscal year, who says these projects will pump much needed revenue into the economy and put persons back to work.
“And that’s what you require in these circumstances. [There is the] sugar project. The first part of the project which is getting the feed lot started, getting the canes replanted, getting the river tamarinds . . . getting all of that done, will start in another few weeks time.
“The factory work will depend on the final term sheet financing from the Japanese – JPEC – in relation to that, and that is expected to start sometime early next year,” he disclosed.
Other projects on the cards include work on the new Barbados Cruise Terminal, known as Sugar Point.
“I think the financing has now been agreed and preliminary work has started, but the full work should start around July this year, and we feel pretty confident about that,” Sinckler said.
In terms of work from the private sector, Sinckler stated that ground had already been broken for a new headquarters for the Sanitation Service Authority and with the financing for that project already in place, final approvals were now being awaited from the Town Planning Department.
“I know that the Ministry [of the Environment] has been working on the leachate plant and they are negotiating with the Williams Group to finalize the arrangement for that. So again that also could get going later this year or early next year. In terms of those projects, we feel reasonably comfortable that we are right now almost at starting point,” he noted, but was “mum” when asked about the status of the Four Seasons project.