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| The Chinese contractor involved in the Marriott Hotel was advanced US$10M (G$2B) last year, despite ongoing objections to the project by the opposition parties in Parliament.According to released audited financial statements of Atlantic Hotel Incorporated (AHI),Jerseys Wholesale, the special purpose vehicle (SPV) established to own the hotel project,Cheap NFL Jerseys, 20% advance payments was made to Shanghai Construction Group (SCG) Trinidad Ltd,Wholesale NBA Jerseys, the contractor.The amount stated in the report is $2,Cheap Soccer Jerseys For Sale,036,724,516.The planned Marriott Hotel.It is unusual for contractors to be paid more than 10% of the contract cost as an “advance”.This latest disclosure is made despite a total lack of details as to who the investors are. Neither the Government nor NICIL released any feasibility studies for the project. This project has been severely criticized for its lack of transparency and the alleged use of taxpayers’ money through the unaudited NICIL books. The project is also criticized by hoteliers who have argued that there is unused capacity in other hotels. The main criticism is the Government’s intended competition with the private sector.Days before the General and Regional Elections last November, the Bharrat Jagdeo administration turned the sod signaling the start of the project at Kingston, west of the current Pegasus Hotel.The land in Kingston is being cleared and camps have been built by the Chinese company.The money would be taken from the accounts of NICIL,Wholesale Nike NFL Jerseys, the same company which is charged with managing undisclosed state assets worth billions of dollars.On November 16,Cheap Basketball Jerseys, 2011, a ‘design and build’ contract was executed with SCG and AHI to the value of US$50.9M. It will see the delivery of a 197-room facility built on a turnkey basis. |
