The board of the National Insurance Scheme (NIS) will invest in the stalled Four Seasons project, ending months of speculation and debate over the issue.
This was confirmed yesterday by Minister of Finance Chris Sinckler, who said the local NIS would join the NIS of Dominica and St Vincent and the Grenadines as minority investors in the tourism project.
Paradise Beach Limited, the company seeking to restart Four Seasons, had sought a $60 million investment from the local NIS.
Sinckler noted that the controversial hotel and residencies at Paradise Beach, St Michael, that had attracted some of the world’s wealthiest, including Simon Cowell and Andrew Lloyd Webber, was on the verge of securing even more financial support.
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