Georgtown: Just who are the major shareholders in the US multi-million dollar Marriot hotel project is still being kept a secret. Government spokesman Robert Persaud, told reporters earlier today that he could not reveal the names of the shareholders without first getting their permission. Persaud was speaking at the Campaign Update of the PPP/C."
He denied that President Bharrat Jagdeo had any financial stake in the project.
Winston Brassington was one of the principal negotiators behind the project and today is listed as one of the principals for Atlantic Hotel Incorporated (AHI). AHI is a special purpose company that has been established to own the hotel but to date full disclosure on the shareholders is yet to be made.
Persaud told media operatives too that, “I am aware of the details but I have to make sure that the parties are interested in this regard including…one of the Region’s largest bank.” The bank he was referring to is Republic Bank which has its headquarters in Trinidad and Tobago. The Republic Bank Group which has branches in Guyana has committed to providing just over half of the total amount mentioned by Brassington for the project during the sod turning ceremony on Sunday. The project is expected to cost some US$51M and the Republic Bank Group has committed US$27M.
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