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May 14, 2020

Time is Running Out for Proposed Port of Belize Expansion

Michael Ashcroft

A mega project in the tourism industry has been on the drawing board for years. Waterloo Investment Holdings is proposing to invest two hundred million dollars to expand the Port of Belize so that much bigger cargo ships can come in through a deeper channel. But the investment has been languishing for some time going from committee to committee. This morning, Lord Ashcroft said time is running out.

 

Lord Michael Ashcroft

“It is a proposal to handle the bulk handling and cruise terminal. Because the cruise liners are saying that as their ships get bigger in the future that within 2 to three years time they don’t necessarily want to have to come to ports that have tender their passengers in. So the time is running out for Belize. The discussions on doings something here’s been going on for a number of years and of course with the pandemic on and the uncertainty that there is. This is project that there are three projects running, you have the Feinstein one up at Stake Bank but that is a tender back in To Belize City and you have a Gegg one farther down the coast which I suspect will have difficulty financing and you have the one from Waterloo but the project is of such a size that unless and until it can be embraced by a government to work together to do something it’s probably going to babe very difficult to do.”


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