The Hyatt Hotel project should start later this year, says prominent businessman Mark Maloney, following a deal signed yesterday with Afreximbank.
With the US$90 million deal, Maloney anticipates the project, once started, will be completed in 18 months.
The stalled project has been hit by one snag after the other, including a court action.
Developer Maloney joined a number of other businesspeople benefiting from loan arrangements with Afreximbank, which has the African Export-Import Bank CARICOM Office in Barbados.
The executive chairman of the Maloney Group and a major producer of cement has also linked up with Dangote Industries of Nigeria in an effort to expand that side of his business. (AC)
