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Jan 18, 2016

PIL Prepared to Invest in Cruise Port in Port Loyola

Dean Barrow

While we discussed the issue of the arbitration award, we also inquired whether relations between Barrow and Lord Michael Ashcroft were on the mend. The PM recently said that he was giving serious consideration for a major investment in a cruise port; that proposal is coming from the Ports Investment Limited which holds the receivership for the Port of Belize.

 

Marleni Cuellar

“Some have looked at the settlement that was made with B.T.L. and the current proposals for investment and have considered it to be a softening of relationships between yourself and Lord Michael Ashcroft. Is that the case?”

 

Prime Minister Dean Barrow

“Yes, because the joining of issue over B.T.L. was a huge thing and the settlement is therefore extremely consequential. I have said that I can put it no higher.  The company PIL, Ports Investment Limited, that has the Port Loyola Ship receivership. That company has prepared to at least explore the possibility and feasibility of doing a cruise port at Port Loyola that was the sight of original intention when Carnival was in the picture. Now, it is PIL, not Lord Ashcroft, but clearly he’s a moving force and if we can…if something can happen there we would absolutely welcome it. He has already said to me, with the decks having been cleared in respect to the B.T.L. issue he will in any case be prepared to invest more in the cargo side of things, in the container port and you know that is clearly in need of equipment and a modernization. It is clear and I’ve said it to him and they might have feared; there is no intention on the part of government to go after the port that is out of the question. So in that kind of a circumstance, his interests or concerns that he is involved, they’re willingness to put money in the cargo port and the cruise port is something that we welcome.

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