GOVERNMENT’S PLAN for a major restructuring of Barbados’ struggling sugar industry has been given life with the signing of an agreement with Inter-Sugar Partnership Limited (ISP).
In a statement issued yesterday, the company, which described itself as an advisor on international public/private sector projects, said it had signed a legal memorandum with Government to go ahead with its cane industry restructuring project.
As a result, the island can move ahead with construction
of a new multi-purpose facility at Andrews, St Joseph, which would “contribute numerous economic, social, environmental and energy benefits”.
The memorandum was described by the regional company as “the final hurdle to proceed with the project and ISP will now recommence advanced discussions with international financial institutions to secure the financing for the project”. (GE)
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