St Vincent launches 600 Million Dollars Kingstown Port Modernization Project
St Vincent and the Grenadines launched a $620 million port modernization project on Friday. Following the completion of the Argyle Airport in 2017, this is the second-largest capital project on the Southern Caribbean island.
The Aecon Group Inc was awarded a US$170 million contract from the government of Saint Vincent and the Grenadines to build a modernised cargo port.
Isaac Solomon, Vice President of Operations at the Caribbean Development Bank, described the launch of the Kingstown Port Modernization project on Friday 1 July as a historic event.
“Today is a historic day for the Caribbean Development Bank as we begin its largest project in 52 years.”
Solomon said that the CDB is cooperating with SVG on a wide range of issues, including education, agriculture, disaster risk reduction, and adaptation to climate change.
This project primarily involves designing and building a cargo port, relocating a sewer outfall line, and upgrading and strengthening roads within Kingstown’s port catchment area.
Additional scope includes reclaiming 6.5 hectares of seaward reclaimed land for the terminal, a container storage yard, and maintenance areas for break-bulk vehicles. An administration and customs building, workshops, warehouses, and a container freight station will be included in the terminal buildings.
Aecon Construction Group Inc and the government signed a contract worth approximately US$170.4 million or EC$460.07 million.
In addition, Sellhorn Engineering, the company responsible for project supervision, signed a contract worth EC$10.7 million.
It is estimated that port equipment will cost between US$20 million and EC$54 million.
EC$4.8million was spent on the Lowmans housing project for the relocation of Rose Place residents.
The project is being financed by the Caribbean Development Bank, The United Kingdom Caribbean Infrastructure Fund and the Government of Saint Vincent and the Grenadines. Construction is expected to commence in September 2022, with an anticipated duration of two and a half years.
The current deepwater harbour in Kingstown was completed with the aid of the Government of Canada in 1965.
Economic Recovery
Justin Robinson, pro-vice-chancellor of the Board of Undergraduate Studies at the University of The West Indies said on WEFM’s Issue at Hand programme on April 17, that SVG needs to implement a massive capital project in the near term if it is to recover from the economic blows of the past two years.
According to Robinson, the EC$600 million Rose Place, Kingstown Port Modernisation Project fit the bill for generating this kind of economic transformation.
“Ideally, a place like St Vincent needs a massive capital project or two. A massive capital project will have two positive effects,” Robinson said.
In the video below, Prime Minister Gonsalves on Thursday gave an overview of the project in an interview with the Agency for Public Information.
This article will be updated.
