Bridgetown.
The stalled Fours Season project at Black Rock, St Michael is ready to move ahead, this assurance was given yesterday by Minister of Finance and Economic Affairs, Chris Sinckler.
Adressing a meeting of the Barbados Assocation of Insurance and Financial Advisors at the Lloyd Erskine Sandiford Complex, Sinckler comfirmed the Barbados National Insurance Scheme (NIS) along with the NIS Boards of Dominca, St Vincent and the Grenadines will be minority investors in the controversial tourism project.
"We are in the process to move ahead and the Inter American Development Bank (IADB), ANSA Merchant Bank and Four Seasons Company have agreed to invest US $180 million into the project to get it going again" Sinckler said.
He also revealed that he had met with a number of Four Season villa investors last Wednesday at Sandy Lane, adding:
"The villa owners have said that once they are provided within 30 days with all of the information , they are prepared to restart their investment in the project because they feel satisfied they investments will be protected and not fall under the same situation that occurred before".
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