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Tuesday, March 9, 2010

Pierhead Project Back From The Dead - In News Again

"FOUR MEMBERS of the board have parted company with the Barbados Tourism Investment Inc. (BTII).
Reports reaching THE NATION yesterday were that chairman Jerry Thorne, deputy chairman Mark Prescott, and members Paul Bernstein and Decourcey Headley have left the BTII. All of them have been on the board since 2008.

New appointments

It is understood that new appointments were made last month, and chartered accountant Andrew Marryshow was installed as the new chairman while businessman Chris deCaires is his deputy.
Several telephone calls to Minister of State in the Ministry of Finance, Darcy Boyce, and Minister of Tourism Richard Sealy for confirmation about this situation were not immediately returned. THE NATION was informed that both were attending meetings.

When contacted, Thorne, an orthopaedic surgeon, declined to comment, but deCaires confirmed that he was now on the BTII's board.
Reports indicated that the separation follows a disagreement over the $130 million Pierhead Development Project, which was switched from the Ministry of Tourism to the BTII in 2009.
That project, which has been in the works since 1988, includes plans for a marina, hotel, three blocks of condominiums, a retail and restaurant complex and a high-rise car park, as well as other services.
It was to transform the Pierhead and Lower Bay Street into a sophisticated shopping, entertainment and upscale accommodation area, and represent a partnership between Government, the private sector and foreign investors, with Government and the Barbados Shipping and Trading conglomerate as major landowners.
Last October, when asked about the project, chief executive officer of the BTII, Stuart Layne, said it was before Cabinet and he could not speak on the matter.
It is understood that a significant sum of money had already been spent by the former administration to conduct a study into the feasibility of this much-mooted project."

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