Officials of Barbados Tourism Investment Inc. outlining some of the organisation's upcoming projects. From left are Chairman Chris De Caires, acting CEO Charles Holder, Director of Investment Promotion and Development Deborah Nurse, and Manager of Investment Properties, Victor Gittens.

Web Posted - Fri Jul 02 2004
By Kerri Howard

The Barbados Tourism Investment Inc. is planning to invest some $1 billion in tourism related infrastructural projects over the next five years. During a press conference which was held at the Sherbourne Centre yesterday, senior officials updated the progress of several future and ongoing developments. A meeting scheduled for next week should finalise the financing arrangements for the major Pierhead development project. This project entails the rehabilitation of central Bridgetown in two phases at an approximate cost of $11 million. This will encompass a marina that can accommodate approximately 150 yachts. A hotel and condominiums have been included in the plans. Sheet-piling of the Inner Basin as part of Phase One of this Careenage project is expected to commence between September and December, this year.

Meanwhile, construction activity at Dover Beach and the Fish Market and Esplanade at Speightstown is scheduled to begin next month and should take about one year to complete. The redevelopment at Dover Beach will feature new beach facilities, kiosks for vendors, a timber boardwalk and improved lighting. This is to be completed at an estimated cost of $2.5 million.

The BTI promises that the Fish Market at Speighstown will comprise new fish handling facilities, public washrooms and a new bandstand among other refurbishments.

Barbadians can also anticipate the completion of the street scape improvements at St. Lawrence Gap in November of this year. The officials said upgrading of the utility services in the area pushed the project past its projected deadline.

The directors of BTI noted that the company was actively seeking private investors to finance the majority of its projects, and as part of its strategy to attract investors, the BTI has produced a CD which outlines the nature of redevelopment to take place within the next ten years.

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