February start for Four Seasons
Resumption of the stalled Four Seasons hotel project is targeted for around February next year.
Touring the Black Rock site Wednesday evening, Minister of Finance Chris Sinckler expressed delight at the prospects for resumption of the multi-million dollar upscale hotel and villa project which has seen about three failed rescue attempts. Though admitting remobilisation would not be easy, Sinckler was confident that all the instruments put in place by government to get Four Seasons back on track had cleared the way for work to begin again.
He told the media “We are very happy as a government to see that the guarantee that we have provided has assisted in clearing the path for this project to be restarted…Barbadians can get work and the country gets investment…it is a win-win situation for all the stakeholders involved.
Government has guaranteed US $60 million to the project from the ANSA Mc AL Merchant Bank in Trinidad and Tobago, boosting substantial capital already put in by foreign investors. Construction was last halted in February 2009 with access to funds listed as the major problem.
Executive chairman of the body representing stakeholders, Avinash Persaud revealed that total construction costs at completion were estimated at BDS $300 million.
Full story in Thursday’s DAILY NATION