NIS $50m rethink

THE CLOCK IS SAID to be ticking on the Four Seasons Barbados project, with officials of the National Insurance Scheme (NIS) still mulling over a $50 million investment proposal.
Last Tuesday, members of the NIS board were summoned to a special Cabinet meeting, after a report was issued by NIS investment analysts recommending that the Scheme go no further with the proposal.
At a subsequent meeting of the board’s investment committee on Wednesday, the analysts were advised to take a second look at the proposed investment and to report in short order.
“They have been asked to review their report and to factor in villa sales,” said one insider, who pointed out that the original plan was for a hotel and 34 villas. (GE/KJ)
 
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