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Investors lining up for Ottley Hall Marina

Investors lining up for Ottley Hall Marina


Barring the continuing soap opera that is the Ottley Hall Enquiry, the weight of the failed project has finally been lifted off the shoulders of Vincentians.{{more}}

A happy Prime Minister Dr Ralph Gonsalves, read a letter in parliament last Tuesday, which indicated that the deal with the Italian state agency SACE is final.

The letter, which was sent by Michal Ron, the head of the Claims and Recovery Division of SACE termed working with Dr Gonsalves “a pleasure” and indicated her interest to see further business ventures birthed between St Vincent and the Grenadines, and Italian investors.

St Vincent and the Grenadines paid the US$6 million settlement fee on November 15th.

“This is a major victory for the Government and people of St Vincent and the Grenadines,” Dr Gonsalves said.

He also noted that he has already begun fielding offers by investors who are interested in the Ottley Hall project, and on the morning of parliament he met with representatives from a company from Miami and the Bahamas, which has indicated their interest in either leasing or purchasing the property.

One matter that is to be resolved though, is the payment of some EC $1.2 million owed to some small creditors.

“I will certainly have that matter addressed. I don’t want to see small creditors, those from St Vincent and the Grenadines, who in good faith did business with an entity, of which is 49 percent owned by the government, be out of pocket completely,” Dr Gonsalves said.

He also said that a committee has been set up to handle the Ottley Hall matters.

Dr Gonsalves again endorsed his government’s decision to establish the Ottley Hall Commission, the validity of which is currently being challenged by former Prime Minister Sir James Mitchell.

“I want to reiterate that the establishment of the Ottley Hall Commission played a very significant part in having this wonderful settlement, which I have announced.”(KJ)