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BARBADOS PROJECT PROPOSALS

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Karim Badri

on 10 October 2012

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Transcript of BARBADOS PROJECT PROPOSALS

BARBADOS PROJECT PROPOSALS Location: Cave Hill Campus
 
Nature of investment required/preferred: US$3.5 million.
 
Project Status: To be confirmed
 
Contact: Dr. Anthony O. Fisher, Director, External Relations, Office of Student Corporate
& Alumni Relations (OSCAR) University of the West Indies, Cave Hill Campus
ontact
Telephone: (246) 417-4656; Cell: (246) 230-6673
 
Fax: (246) 424-3320
 
Email: Anthony.fisher@cavehill.uwi.edu

Website: www.cavehill.uwi.edu The UWI Centre for Food Security and Entrepreneurship

This project envisaged the establishment of a Centre for the Promotion of Sustainable Food Production and Agribusiness Systems (an organic farm).

The Centre that could be the nucleus of a programme in Food and Agriculture at Cave Hill Campus of the University of the West Indies, that would promote sustainable agricultural production and would assist in training students at the Diploma level in the basic elements of Agriculture and Food Production.

The project, to be located at Dukes Estate, St. Thomas, will be undertaken in cooperation with the Samuel Jackman Prescod Polytechnic and the Barbados Community College.
 
Nature of investment required/preferred: US$30 – US$150 Million over 5 years
  The major components of CIRP are:
 
An improvement in farming practices to enhance sugar cane yields.
An improvement in the efficiency of processing sugar cane into sugar and molasses to food grade and environmental standards.
The provision of plant for processing refined sugar.
The provision of plant for the cogeneration of heat and electricity from bagasse and Leucaena1 for factory consumption and export to the grid.
Research and development for maximising the energy potential of the biomass.
Sugar packaging facilities to meet local and export market requirements.
Storage facilities for sugar, molasses, bagasse, biomass and raw materials.
Civil works to refurbish and expand existing ancillary infrastructure such as roads, drainage, offices and workshops.
Human resource development for the new facility. The Barbados Cane Industry Corporation (BCIC) is a limited liability company established by the Government of Barbados and reporting to the Ministry of Agriculture, to develop and implement a restructuring plan for the sugar industry. The BCIC is mandated to champion change within the industry and to facilitate continuous and sustainable growth, thereby ensuring that the industry is financially independent and capable of contributing to the balanced economic development of Barbados.

Under the Cane Industry Restructuring Project (CIRP), the BCIC will plan and enable the conversion of the existing sugar industry into a sugar cane and renewable energy industry. CIRP involves the renovation and upgrade of the existing Andrews Sugar Factory to produce specialty sugars, refined white sugars, molasses and to generate electricity. The resulting economic and social benefits for the industry stakeholders as well as the Government of Barbados will be derived from value-added products.
  This is a conservation and renewable energy generation project at the University of the West Indies, Cave Hill Campus, for the installation of photovoltaic panels and the implementation of energy conservation measures to reduce the Bds$5 million yearly energy bills at the campus.
 
Nature of investment required/preferred: US$7.8 million
 
Project Status: To be confirmed
 
Contact: Dr. Anthony O. Fisher, Director, External Relations, Office of Student Corporate
& Alumni Relations (OSCAR) University of the West Indies, Cave Hill Campus
 
Telephone: (246) 417-4656; Cell: (246) 230-6673
 
Fax: (246) 424-3320
 
Email: Anthony.fisher@cavehill.uwi.edu

Website: www.cavehill.uwi.edu The Barbados Light & Power Limited has identified approximately 300 acres of land at Lamberts East, St. Lucy for the establishment of a wind farm to generate approximately 10 MW of electricity. Approval has been granted by the Town and Country Department Planning Office for the establishment of the wind farm. The estimated cost of the wind energy project is US$21.5 million.

Nature of investment required/preferred – To be confirmed

Project Status: Awaiting lease agreement on land

Contact: Mr. Roger Blackman, Senior Planning Engineer, Barbados Light and Power Ltd.

Telephone: (246) 626-5003
Email: rogerblackman@blpc.com.bb

Website: http://www.blpc.com.bb The proposed waste-to-energy facility will be part of the Mangrove Pond Green Energy Complex in the parish of St Thomas.  In addition to the waste to energy facility, the complex will also include a solar photovoltaic facility, a wind energy facility and a landfill gas management system.  It is projected that a total of 25 megawatts of power would be generated from the renewable energy sources for sale to the power grid, thereby reducing the country’s dependency on fossil fuels.  The estimated cost of the Mangrove Pond Green Energy Complex project is US$188 million.
 
The Barbados government has undertaken to prepare a Request For Proposal (RFP) for the development of a waste-to-energy plant of approximately 10 MW In capacity.  It is expected that the waste to energy facility will process approximately 350 tonnes of solid waste per day. 
 
Nature of investment required/preferred – To be confirmed

Project Status: Planned


Contact: Mr. Stanton Alleyne, General Manager, Barbados Sanitation Authority
Telephone: (246) 430-3000 This project is designed to replace the existing public hospital – the Queen Elizabeth Hospital – which has been in operation for almost 50 years. The proposed green field investment will consist of a 600 bed facility and the estimated construction costs are US$400 million.

Nature of investment required/preferred: To be confirmed

Project Status: Planned

Contact: Mr. Ronald Fitt, Permanent Secretary, Ministry of Health;

Telephone: (246) 426-5080
Email: pshealth@health.gov.bb
Contact: Mr. Dean Eccleston, Queen Elizabeth Hospital
Telephone: (246) 426-4642

Websites:
http://www.health.gov.bb; http://www.qehconnect.com/index.php New Public Hospital ‘The Crane Resorts’ is a luxury property offering shared ownership packages at its residential development in St. Philip. Taking advantage of the natural landscape, The Crane features sweeping views of the ocean and captures the easterly trade winds.

In recent years, Crane Beach has received numerous accolades, including being named “one of the top ten beaches of the world” by Lifestyles of the Rich and Famous and one of the top 50 must-see places in the world” by BBC-TV’s Holiday programme. It’s Zen Restaurant was also rated “#1 for Food” by Zagat.
 
‘The Crane Resorts’ derives its revenue from shared ownership sales, hotel/resort operations, owner’s fees and whole ownership sales. Having adopted a vertical integration model with the design and construction elements of its development, ‘The Crane Resorts’ adapts quickly to changing industry circumstances.

It is now moving to an Initial Public Offering (IPO) of common and preferred shares with initial listings on the Barbados and Trinidad seeking to raise US$20-30 million for each type of equity for an aggregate amount of US$40-60 million.
  The Four Seasons Resort and Private Residences is a luxury development of a 110-key hotel, 47 residential apartments and 20 residential estate villas at Paradise, Black Rock, St. Michael.
 
The project is in the process of seeking investors in order to recommence construction. The Government of Barbados has provided temporary sovereign loan guarantees to provide time to restructure the project and for potential lenders and investors to carry out sufficient analysis of the likely revenues, costs and risks to raise long-term finance. The Inter-American Development Bank has provided a US$80 million credit facility and the National Insurance Scheme has approved a proposal for investment of US$30 million. Interest in purchasing the project outright has been expressed by three other parties. Discussions are ongoing but expressions of interest are still being accepted.
 
Project Status: Postponed pending further investment
Nature of investment required/preferred: Capitalisation

Contact: Professor Avinash Persaud, Executive Chairman, Paradise Beach Limited
Telephone: (246) 628 8888
Email: apersaud@mac.com

Website: http://www.clearwaterbarbados.com/ Project value and/or Value of units on sale: Homes are priced from US$2.3 million to US$7.75 million

Project Status: Complete

Nature of investment required/preferred: Homes can be purchased individually and rented short or long term to earn income.  Purchase of a block of homes with a guaranteed rental return is also possible.

Contact: Bjorn Bjerkhamn, Chairman St. Peter's Bay SRL, JADA Group or Betty Cathrow, Project Manager, St. Peter’s Bay SRL

Telephone: (246) 419-9601

Fax: (246) 419-9606
Email: info@stpetersbaybarbados.com


Website: http://www.stpetersbaybarbados.com
  Saint Peter’s Bay offers 57 private beachfront residences nestled on four acres of Barbados’ platinum west coast, at Road View, St. Peter.  Each home of 3 or 4 bedrooms, ranging in size from 2,700 - 6,300 square, features deluxe penthouses, generous terraces with spa pools, fully equipped kitchens, beautiful en suite bedrooms and an open plan which maximises ocean views.  Saint Peter’s Bay was fully completed in 2010 and offers home for sale and rental.
 
Discreet elegance is complimented by an array of amenities including concierge services, water taxi services, a fitness centre, a beauty salon, and on site property management and security personnel. On the beachfront a beautiful 160 ft freeform swimming pool and Gazebo bar border the beach.
 
A part of the St. Peter’s Bay purchase package are offers of a number of extremely attractive incentives including Membership at the exclusive Port St. Charles Yacht Club close by; access to a select number of berths at our sister development Port Ferdinand Marina; and the privilege of purchasing a golf playing card at the exclusive Apes Hill Club close by.  Saint Peter’s Bay is part of an exciting master plan for the north western part of Barbados which will provide links between a mix of luxury developments and complimentary amenities and services in the area while ensuring that the areas’ signature Barbadian charm is retained.   Project value and/or Value of units on sale: Value of units for sale estimated at US$2.5m to US$7m

Project Status: Phase one to be completed late 2012/early 2013 including 32 condominium units, the marina, reception, restaurant, gourmet store, beach facility, staff building, gym, and kids club. Full project build out within three years.

Nature of investment required/preferred: Purchase of individual units with option to rent short or long term. Opportunity to purchase a block of homes also available for discussion.

Contact: Bjorn Bjerkhamn, Chairman Port Ferdinand SRL, JADA Group or Tania Wardle, Development Manager, Port Ferdinand SRL

Telephone: (246) 439 9242 / 5956
Fax: (246) 439 6102
Email: info@portferdinand.com

Website:
 http://www.bjerkhamn.com/projects/PortFerdinand.html
 http://www.portferdinand.com Port Ferdinand Marina is a private luxury marina development consisting of 120 berths and 86 luxury apartments, primarily three bedroom, starting at 2,300 square feet each. Located at Six Men’s in St. Peter, construction of Port Ferdinand began in December 2009 and each condominium will have views of the marina, its own private berth with dock side storage room, and an additional owner's storage room.
 
Amenities will include a 24 hour security and concierge service, membership to Port St. Charles Yacht Club, an island pool and gazebo, a full service restaurant, a gourmet store, a beach facility, a water taxi service, an indoor kids club, an outdoor kids playground, a modern gym with personal training facilities, a spa, an experience shower, an entertainment room (adult recreation centre with pool and card tables), a business center, visual conferencing, function and meeting rooms, and more.
  This project - a new cruise pier and ancillary facilities south of the breakwater - comprises the reclamation of approximately 15 acres of land adjacent to Trevor's Way. It involves the construction of three piers, including one dedicated for homeporting activities. The design work, which is currently being undertaken, will cost approximately US$10 million.
 
Preliminary estimates of cost to construct two of these piers and the reclamation is US$190 million. The two piers will increase capacity by four berthing spaces to accommodate mega cruise ships of at least 3,000 passengers each.
 
The proponent selected to undertake this project is a joint venture team consisting of SMI Infrastructure Solutions Inc. and Royal Caribbean Cruise Lines.
 
The Barbados Port Inc. desires to commence this project in the first quarter of 2013.

Nature of investment required/preferred: To be confirmed
 Project Status: Planned
 
Contact: Mr. Kenneth Atherley, Divisional Manager Corporate Strategy, Barbados Port Inc. Telephone: (246) 434-6100 Email: katherley@barbadosport.com
 
Website: http://www.barbadosport.com

  New Cruise Pier Barbados Port Inc. is in the process of finalising its Port Master Plan which will guide the organisation for the next 10 years. The total project cost is approximately US$50 million. The key elements include:
Re-organising the cargo activities to enable faster ship turnaround times and related efficiencies. This will involve removal of two transit sheds and building one state-of-the art cargo handling terminal.
Constructing a new Administration Headquarters.
Acquiring new cargo handling equipment including a modern gantry crane and several container handling units.
Developing facilities to accommodate ferry services.
 
Nature of investment required/preferred: To be confirmed
 
Project Status: Plans to be finalised by first quarter 2013
 
Contact: Mr. Wayne Jean-Marie, Chief Executive Officer, Barbados Port Inc.
 
Telephone: (246) 434-6100
 
Email: wjeanmarie@barbadosport.com Port Master Plan The proposed resort development at Harrison’s Point is a public-private joint venture of Barbados Tourism Investment Inc. and Fairways Developments Ltd. The Harrison’s Point property is located in the northern parish of St. Lucy.  It is an 82 acre site with approximately one kilometer of Caribbean ocean and beach frontage that offers unparalleled opportunities to establish a tranquil and luxurious destination resort that should become the iconic image of a luxury hotel experience in Barbados.  The cost of the development is currently projected at US$350 million.
 
Nature of investment required/preferred: Debt and Equity

Project Status: Planned

Contact: Mr. Stuart Layne, CEO, Barbados Tourism Investment Inc.
Telephone: (246) 426-7085
Email: slayne@tourisminvest.com.bb

Website: http://barbadostourisminvestment.com Harrison’s Point This project will entail the construction of an upscale US$105 million super yacht marina in the capital city of Bridgetown consisting of approximately 80 berths as well as the reclamation of lands (10 acres of prime real estate) on which condominiums will be built.   

It will be located along the southern corridor of the city, in the area of the Pierhead/Bay Street/Carlisle Bay. 

Additionally, the development of the marina should result in enhancement of the beach in the immediate vicinity of Carlisle Bay.

Nature of investment required/preferred: Debt and Equity

Project Status: Planned

Contact: Mr. Stuart Layne, CEO, Barbados Tourism Investment Inc.
Telephone: (246) 426-7085
Email: slayne@tourisminvest.com.bb

Website: http://barbadostourisminvestment.com It is anticipated that the tourism and international business sectors will continue to fuel growth and lead foreign exchange earnings. Notably, Bridgetown and its Garrison was inscribed as a World Heritage Site in June 2011. Seen as a boost to the island’s already rich tourism legacy, plans for the sector include the development and expansion of the existing tourism product.

In international business and financial services, government will actively seek to expand its network of double taxation and bilateral treaty agreements while expanding its market reach and updating its product portfolio.

In another important pillar of the economy, the agricultural sector, the focus will be on the utilization of technology and food security. With respect to energy, emphasis will be placed on the development and expansion of renewable energy sources including solar, wind, and biofuels as well as alternative sources such as waste. In response, the Government’s Medium Term Development Strategy (2010-2014) serves as an important tool to guide the country as it emerges from the recession. The strategy aims sustain export-led economic growth of at least three percent; levels of foreign exchange to finance development needs; keep unemployment rates low; manage the macroeconomic environment while maintaining adequate social services and ensure environmental sustainability.

With respect to specific economic sectors, performance in 2011 indicates that the four main sectors contributing to the Gross Domestic Product (GDP) of the island were wholesale and retail trade 22.14%, business and other services 19.73%, government services 16.14%, and tourism 12.1%. The other sectors contributing to GDP include transportation, storage and communications 9.62%, construction 6.88%, manufacturing 4.48%, electricity, gas and water 4.06%, non-sugar agriculture 3.32%, mining and quarrying 0.47%, and sugar 0.94%. A “Center for the Study of the Middle East” at Cave Hill, will:

Promote Arab, Islamic, Middle Eastern studies at undergraduate and postgraduate levels.

Promote research by UWI and international academics and specialists.

Provide a pool of expertise on the Middle East for the public and private sectors.

Strengthen regional ties with the Middle Eastern cultures and countries.

Contribute to commercial and diplomatic activity with the region.

Promote tolerance and understanding. Centre for the Study of the Middle East
 
The University of the West Indies (UWI) began in 1948 as a College of the University of London. Currently it is supported by 15 regional governments of the English speaking Caribbean. Its physical campuses are located at Mona in Jamaica, Cave Hill in Barbados and St. Augustine in Trinidad.

A fourth, the Open Campus, consists of more than forty centers located across the Caribbean and utilizes on-line and face-to-face teaching methodologies. The student body of UWI is currently in excess of 45,000 registered in undergraduate and graduate programmes across the campuses, with an additional 20,000 in certificate, associate degree and continuing education programmes.
  This project proposes using Seawater Greenhouse technology through computerized controlled operations to substitute imports of apt fresh and dried vegetables and herbs as well as the fostering of an agricultural export drive. This project would be self-sustainable and would be complemented using hybrid alternative energy sources……linked to the micro grid (BSP). It has in mind the use of 10 X 25,000sq ft high tech greenhouse at Graeme Hall Christ Church and Spring Hall St. Lucy. The indicative yields are 250,000 kgs per greenhouse per annum with indicative revenues of $800K - $1 Mn. It anticipates the creation of 500 jobs.
 
Nature of investment required/preferred:
 
Project Status:
 
Contact: Barbados Agricultural Development and Marketing Cooperation
 
Telephone: 246 428 0250
Fax: 246 428 0152 Nature of investment required/preferred: The cost of the project is currently estimated at BDS$485M.

Project Status: The BCIC will inject $30M. They are actively seeking financing from external sources for the remaining BD$455M

Contact: Mr. Carl Simpson, Project Manager, BCIC

Telephone: (246) 421-4144

Email: psimpsoncirp@caribsurf.com The Barbados Cane Industry Corporation (BCIC) has developed a proposal to establish a cogeneration system of 25MW capacity at Andrews Sugar Factory, St. Joseph.

In addition to utilizing bagasse during the crop season, the plant will have the capacity to utilise other sources of biomass such as river tamarind. The estimated total project cost is US$200 million.
 
 
Nature of investment required/preferred: To be confirmed

Project Status: Active and seeking financing
Contact: Mr. Carl Simpson, Project Manager, BCIC
Telephone: (246) 421-4144

Email: psimpsoncirp@caribsurf.com Total Value of US$80 million

Phase III- Approximately 372.8 acres of undeveloped land with planning permission.

Total Value US$40 million

Nature of investment required/preferred:

Joint Venture
Complete Purchase
Purchase of one or more phases
Entire property can be offered for US$132 million
 
Contact: Linda A. C. Williams
Telephone: (246) 432-4500
Email: lwilliams@apeshillclub.com

Website: http://www.apeshillclub.com Project Status:
 
Phase I – Approximately 15 acre Polo Development with a Polo Field, Irrigation Lake., four Polo Villa Residences with an approximate combined value of US$4 million and two lots with an approximate combined value of US$1 million.  
 
Total Value US$12 million.
 
Phase II- The approximately 470 acre Apes Hill Golf Club Development includes 165 acres of land dedicated to residential development. 90% of the infrastructure to service the various residential parcels is complete. Approximately 40 acres remain in inventory as “Land held for development”. There is an 18 hole world class golf course and related practice facilities, a golf course maintenance facility and equipment. Also included is an irrigation lake and as well as eight Villas.
  Apes Hill Club is a world class Golf and Polo Community with an emphasis on family lifestyle and nature.  Set on 470 acres at 1,000 feet in the parish of St. James, the Club offers views of both the east and west coasts of Barbados.  
 
Overseas buyer interest in the community’s real estate offerings has been very keen on the quality of the
development. It has drawn investors seeking a full-service, sports-oriented community in the West Indies. Each owner will also benefit from magnificent sports and fitness facilities, a hyper-indulgent spa, twenty four hour security, a concierge service and membership to Port St. Charles Yacht Club.
  Key Investment Considerations:

Proposed Immediate Expansion: The Crane Resort – one additional building consisting of a further 30 residential units; Beach Houses – 50 acre oceanfront, shared ownership residential resort on Barbados’ east coast comprising 89 contemporary ‘green’ residences.

Proposed Medium Term Expansion: Almond Beach Village – 32 acre beachfront site on Barbados’ world renowned west coast; Sam Lord’s Castle - 50 acre beachfront site close to The Crane.

Project Status: Planned

Nature of investment required/preferred: Equity investment

Contact: Paul Doyle, Owner and Managing Director
Telephone: (246) 423-6220
Email: paul.doyle@thecrane.com

Website: http://www.thecrane.com/ Port Ferdinand Marina in Bridgetown TOURISM PROJECTS Special emphasis will also be placed on the development of an innovative, entrepreneurial culture, which should lead to expansion of job opportunities and a thriving small business sector.

In manufacturing, efforts will continue to attract investment for the production of specialised products for export, particularly products that offer high value-added, apparel, pharmaceuticals, and medical devices, while sustaining investment for domestic production.

Critical to sustained economic growth is a healthy and well educated population. Government therefore plans to continue to invest in the relevant infrastructural and human development projects to achieve these objectives. Country Overview Over the past decade, Barbados has been able to maintain favourable economic, social and developmental indicators, strong governance and stable political institutions.

Tourism continues to drive Barbados’ economy, but offshore banking and financial services have become an increasingly important source of foreign exchange and economic growth.
Notwithstanding these developments, the economy is still being impacted by challenges associated with global recession - declines in main tourism markets, volatility of international financial markets, fluctuating energy prices and limited international competiveness. BARBADOS PROJECT PROPOSALS The University of the West Indies would like to refurbish university property at Blue Waters to have a conference center where corporate and academic meetings can take place and serve as a revenue earner for the campus.

Nature of investment required/preferred: US$875,000
 
Project Status: To be confirmed
 
Contact: Dr. Anthony O. Fisher, Director, External Relations, Office of Student Corporate
& Alumni Relations (OSCAR) University of the West Indies, Cave Hill Campus
 
Telephone: (246) 417-4656; Cell: (246) 230-6673
 
Fax: (246) 424-3320
 
Email: Anthony.fisher@cavehill.uwi.edu

Website: www.cavehill.uwi.edu Currently there are no courses in the UWI system which will allow students, the majority of which have been brought up on the region’s islands, to get either a historical or contemporary perspective on the Middle East, or an understanding of Islam.

For example, Arabic is not taught in any faculty of UWI.

The Cave Hill campus would like to on the one hand, equip its graduates to have the opportunity to be taught Arabic, and become better informed about Islamic civilizations from an academic viewpoint, since current knowledge of the Middle East, is founded on ill informed and often biased media reporting.

To this end, the campus would like to upgrade its academic offerings, with a view to increasing the current and future leaders of the region’s knowledge of Middle Eastern society, politics, history, political economy, Arabic literature, culture, science, technology and Islamic studies. The site’s diverse landscape of tropical parks, lush forest and coral stone quarries has been carefully developed to create the resulting combination of a world-class golf course, renowned polo club and equestrian centre, and high-end luxury homes.
 
Apes Hill is the result of the partnership of landowner Sir Charles Williams, prestigious resort developer Landmark Land, and Wentworth Golf Club of Surrey, and is renowned both as a venue for PGA and World Matchplay tournaments and as a benchmark for excellent hospitality. Four Seasons St. Peter’s Bay Françoise L.M Hendy LL.B L.E.CLL.M (Lond.)
BARBADOS HIGH COMMISSION
1 Great Russell Street
London WC1B 3ND
Mobile#: +44(0)7415197958
Email: fhendy@investbarbados.org
Website: www.investbarbados.org Let’s talk … EDUCATION PROJECTS ENERGY PROJECTS HEALTH PROJECTS Apes Hill Club
Golf and Polo Community Almond Beach Village
(500 rooms – Investment US$250 million) Crane Resort
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