Chinese ambassador Song Yumin and Minister of Foreign and Caricom Affairs Dennis Moses have signed a framework agreement for a concessional loan between the governments for the development of Phoenix Park Industrial Estate.<\/p>\n
The agreement was signed yesterday at the ministry at the International Waterfront Complex.<\/p>\n
Trade Minister Paula Gopee-Scoon gave the value of the loan as USD104 million.<\/p>\n
On the time frame for repayment, interest rate, and terms and conditions of the loan, Gopee-Scoon said: \u201cThat is still amateur for the Ministry of Finance in their negotiations with the China Exim Bank.\u201d She added: \u201cIt\u2019s a concessional loan, so I\u2019m sure it\u2019s at a very low interest rate, but it is a matter for the Ministry of Finance in their negotiations.\u201d<\/p>\n
She said at least 1,000 people will be employed in the construction stage, and when the entire park is filled, some 5,000 people will get jobs there. \u201cThere are already interested parties from China, TT, and we do have an anchor tenant from Latin America,\u201d said<\/p>\n
Gopee-Scoon. \u201cWe have completed our prospectus and InvesTT, (an arm of her ministry) will be going to China to meet with Beijing Construction Engineering Group (BCEG) and our mission in China, where they will further market the park.\u201d<\/p>\n
This visit takes place in the third week in November. Moses commended the Chinese for their continued assistance and support for TT\u2019s development goals. He said: \u201cTo date, over 65 agreements have been concluded between our nations, and is a testament to our long-standing friendly relations.\u201d Moses added all such agreements signed in the past represented significant milestones, such as those for the National Academy for the Performing Arts, north and south, the national sporting facilities, the Couva Hospital and the acquisition of the multi-purpose patrol vessel used by the Coast Guard.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese ambassador Song Yumin and Minister of Foreign and Caricom Affairs Dennis Moses have signed a framework agreement for a concessional loan between the governments for the development of Phoenix Park Industrial Estate. The agreement was signed yesterday at the ministry at the International Waterfront Complex. Trade Minister Paula Gopee-Scoon gave the value of the<\/p>\n","protected":false},"author":8,"featured_media":7787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,6],"tags":[],"class_list":["post-7785","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mainstory","category-regional-and-international-news"],"yoast_head":"\n