December 18th 2024 is the deadline given for the government to repay the US95.5 million dollars loan it got from the ExportImport Bank to develop the Phoenix Park industrial Estate by the Bejing Construction Group.
The interest is two percent per annum.
The project is complete and was declared opened earlier this year.
Trade and Industry Minister, Paula Gopee Scoon, revealed the terms of the loan agreement signed between the Government of Trinidad and Tobago and the Export-Import Bank of China in the Senate on Monday.
A contract between ETECK and the contractor for the project was executed on 20th February 2019.B
The loan agreement was described as very favourable by the Minister.