Saturday, April 13, 2024
spot_img
HomeInnovationCaptain the ship is sinking

Captain the ship is sinking

By NextGen SKN

BASSETERRE, St Kitts –  In July 2019, it was reported that a ship with special equipment was under contract to break up the large solid rock on the seabed as well as other high spots, which left intact, would have caused severe damage to the bottom of cruise ships when berthing.

Scheduled to cost EC$86.4 million under the then governing St Kitts-Nevis Labour Party administration, the cost of the second cruise ship pier ballooned to a staggering EC$129.6 million price tag – EC$43.2 million more under the Timothy Harris-led Team Unity government. The additional US$7 million (EC$18.9 million) would take the price tag to EC$148.5 million and counting.

To finance the project, the St Christopher Air and Sea Ports Authority (SCASPA) secured an EC$91.8 million loan from the St Kitts-Nevis-Anguilla National Bank; EC$18.9 million from the St. Christopher and Nevis Social Security Board; EC$13.5 million from the St Kitts and Nevis Sugar Industry Diversification Foundation (SIDF) and EC$5.4 million from the St Kitts-Nevis-Anguilla Trading and Development Company (TDC).

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

Taiwan – US signs arrangement on technical cooperation in the Caribbean

By Caribbean News Global TAIWAN / USA / THE CARIBBEAN - Taiwan’s Representative to the United States ambassador Alexander Tah-Ray Yui and American Institute...

Global News

Afreximbank delivers exceptional financial results in 2023 … well ahead of expectations

CAIRO, Egypt – African Export-Import Bank (“Afreximbank” or the “Group”) has released the consolidated financial statements of the bank and its subsidiaries for the year...