Gov’t agrees to concessional loan from China

Gov’t agrees to concessional loan from China

The Ministry of Foreign and CARICOM Affairs signed a framework agreement allowing for a concessional loan from the People’s Republic of China, to assist in the development of the Phoenix Park Industrial Estate.

On Wednesday 11th November, Minister of Foreign and CARICOM Affairs, Senator the Honourable Dennis Moses, signed the framework agreement on behalf of the Government and His Excellency Song Yumin, Ambassador for the People’s Republic of China, signed on behalf of China. The project will be completed by Evolving TecKnologies and Enterprise Development Company Limited (eTecK) of Trinidad and Tobago and Beijing Construction Engineering Group (BCEG) of China.

In a press release, the Ministry said that the Phoenix Park Industrial Estate is approximately one hundred and forty-five acres and will be designed to attract firms in the areas of high-value and light manufacturing, logistics/warehousing, and emerging industries – electronic technology, information technology, energy-saving ecological building materials and biotechnology, which will promote Government’s diversification efforts.

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