Last night on the news, we told you about the public unveiling of a major development upgrade that has been proposed for the Port of Belize. The Ashcroft-related company, Waterloo Investment Holdings Limited, has presented a 200 million US-dollar package to the Government of Belize for the Port’s facelift, which would expand bulk handling and agricultural shipping capabilities. Also, Waterloo wants to build a cruise terminal on the Port’s property. If it is given the necessary government clearances, this cruise port addition would become the country’s second facility that is able to accommodate shore-side berthing of cruise ships.
But, this proposed development is in its very preliminary stages. During our interview today with Tracy Taegar-Panton, the Minister of State with responsibility for Investment, Trade, and Commerce, we asked for a few more details on the status of this proposed development. Here’s what she told us:
Hon. Tracy Taegar Panton - Minister of State, Investment, Trade And Commerce
"So, there are two projects that the Waterloo Group had proposed, first, a cruise ship terminal, similar to what you see at the Fort Street Tourism Village. And they also looked at the possibility of expanding the port facilities, so that we can have better facilities to ship our goods from. Both projects are under review by the Cabinet Sub-Committee on Investments. There is some preliminary information that needs to be provided to the Committee. Waterloo is aware of what information needs to be provided. I can tell you that the Government is clear that one project cannot happen in isolation of the other. We need to improve the port facilities in Belize City. We want to keep, obviously, our stevedores employed. That’s a big consideration for us as a Government. And we need to look at a docking facility for cruise ships, whenever that industry comes back. And so, both projects are under consideration. We are waiting for additional information, and at that time, a determination will be made."
Reporter
"Can you tell us what is the status of the ownership of the Port? Is it still in receivership? Has it been passed to the investment company? We were told that they have acquired some of the assets, including the land."
Hon. Tracy Taegar Panton
"You have maybe a little bit more information than I have. As far as we know, it’s still in receivership, and soon as we get clarification from the investors, we’ll be able to report on that."
As soon as we learn more about the project, we’ll update you.
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