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Tuesday, October 9, 2007

Pierhead Project Still On Cards

Battle for BS&T no problem for Pierhead project
Published on: 10/8/07.

by Geralyn Edward

THE LONG-MOOTED public/private sector Pierhead Project is still on the cards, according to Barbados Shipping & Trading (BS&T) chief executive officer Anthony King.

Providing an update on the initiative which has been nearly a decade in the works, King told BARBADOS BUSINESS AUTHORITY the current takeover battle between Neal & Massy and ANSA McAL for BS&T had not affected plans for one of the country's most ambitious projects.

The multimillion-dollar project would transform the Pierhead and lower Bay Street sites into a sophisticated shopping, entertainment and upscale accommodation area.

"In a way it is fortunate that there are not a lot of hard decisions or a lot of heavy financial decisions that have to be taken with the Pierhead project at this time.

"As a result, the takeover issue is not affecting it. But clearly, whoever is successful at the takeover will need to look at it and decide how they want to do things," he said in an interview over the weekend.

He explained that Neal & Massy, which for several years had a presence on the BS&T board of directors, "did not have any differences with us on it."

At the same time, the top BS&T executive said most of the project plans were on hold while Government completed the marina portion being handled by Barbados Tourism Investment Corporation.
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