Lowmans powering up

Work on the new power plant at Lowmans Bay, just about two miles north west of capital city Kingstown is set to begin in January. Prime Minister Dr. Ralph Gonsalves gave this assurance during the presentation of the 2005 Budget Address last Monday evening. {{more}}Two days later the measure received practical manifestation with the signing of the US$10M from the European Investment Bank.

The Luxembourg-based Head of Division David Crush, initialed the agreement on behalf of his institution with Prime Minister Dr. Ralph Gonsalves, along with a high powered team from Vinlec also attended the session.

The VINLEC officials were CEO Thornley Myers, Project Manager Herbert Samuel, and Juliette Hinds-Wilson, finance manager.

Dr. Gonsalves was concise in his remarks at the ceremony, protecting a hoarse voice, inflicted through hours of use during the budget debate the past days.

Dr. Gonsalves said the work will begin January by a Canadian firm MAN B & W and is estimated to cost EC $100 million.

Completion is expected in 58 weeks according to Myers, while transmission and distribution is carded to take another six months.

The project comprises an 8.6-megawatt plant, and the construction of substations in Lowmans Bay, Cane Hall, and Lowmans Windward, expansion of the transmission network construction of sea defences at Lowmans Bay.

Prime Minister has no worries about repayment of the loan, for it will come from Vinlec’s resources, which Dr. Gonsalves regards as “thriving”.

Crush paid tribute to Vinlec’s economic management, which encouraged the EIB to lend the money.

The Caribbean Development Bank will provide a further US$18.1 million, with Vinlec accounting for the required amount.