Nevis Premier meets With Prospective Investors For Geothermal Project

Joseph Parry - Premier of Nevis

Joseph Parry – Premier of Nevis

Charlestown, Nevis
April 09, 2009

Premier of Nevis Hon. Joseph Parry described discussions with representatives from prospective financiers for the construction of the geothermal plant on Nevis as healthy and positive.

He made the comment on Wednesday following a meeting at his Bath Plain Office with a two member team from the Export-Import Bank of the United States.

Team Leader Mr. Karl Kendal and Mr. Masud Hasan Environmental Specialist of the Bank’s Engineer and Environmental Division were on the island for a preliminary technical review of the project as part of an evaluation exercise for the West Indies Power (WIP) loan application to the Bank.

“They wish to know our involvement in terms of the project and that the government is in control. I have given all the assurances that we have worked very well with West Indies Power; that we have done what we had to do in parliament to pass the regulations to make sure we have regulations to control any development of geothermal; that we have come to an agreement [that is] already complete and we will be signing those agreements in the future; that the project has our fullest support and we are behind it 100 percent.

“We expect that the Bank will do its due diligence and do all the work that it has to do and eventually would come out in support of the project,” he said.

Mr. Kendal described the Bank as the official export credit agency of the United States Government. Which in essence, financed projects that incorporated the export of US goods and services benefitted the United States and in this case, also to Nevis.

The team was accompanied by Chief Executive Officer of WIP and General Manager Mr. Rawlinson Isaac.

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