Government sells TT Express fast ferry for US$3M

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Government sells TT Express fast ferry for US$3M

The Chairman of the National Infrastructure Development Company Ltd (NIDCO) has revealed that the fast ferry the TT Express has been sold for over US$3 million.

The TT Express was bought in 2006 for $20 million and government decided to sell it after it experienced several electrical and mechanical issues that would cost over US$10 million in repairs.

In an interview with the Newsday, NIDCO’s Chairman, Herbert George announced that the buyer was Servicios y Concesiones Maritimas Ibicenca, a bookings, transportation, and vehicle rentals maritime company in Spain and that the selling price was US$3,022,000.

He told the media house that they executed a memorandum of agreement that was signed on February 25, 2021.