The Barbados Water Authority (BWA) has started renegotiating its contract with Innotech Aquaserve Ltd for the $44 million headquarters complex.
The BWA management revealed it was tied to a contract which would see the authority paying more than $171 million over 15 years before the authority could own the building.
“Discussions commenced yesterday (Wednesday) with the Innotech team and the external negotiators appointed by the Government,” BWA chairman Leodean Worrell said on Thursday at the BWA’s Pine, St Michael headquarters.
“They are progressing quite well. We have not yet gotten a full report, so at this point in time I can’t exactly indicate where it is, but there are indeed contracts that have to be renegotiated and this one in particular is one that needs to be renegotiated,” she added. (AD)
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