Cabinet approves three construction projects that will pump EC$115 million in the local economy
BASSETERRE, ST. KITTS, JULY 26TH 2012 (CUOPM) – The Federal Cabinet has approved three construction projects that will pump some EC$115 million in the local economy.
“In response to the need to provide ongoing support for activities that will assist the growth prospects of the local economy, and in reflecting upon the growth challenges which have flowed out of the global economic recession, Cabinet approved the three significant investment projects which are intended to boost the construction and tourism sectors,” said Minister of Information, Sen. the Hon. Nigel Carty.
He said in the post Cabinet Briefing following Monday’s weekly Cabinet Meeting that the construction projects which are spread over five to seven years are expected to provide hundreds of jobs for builders, tradesmen and services providers.
“In addition to the jobs created in the development phases of the projects, long-term job prospects for our citizens will be enhanced,” said Minister Carty.
He disclosed that one of the projects is a student complex with forty-six apartments, student centre and overnight guest facilities and which is seeking to respond to the expected increase in demand for student accommodation on St. Kitts.
The second project is a 62-lot residential development phasing the construction of 20 cottages, 120 condominium units of different sizes, and common amenities over 5 to 7 years.
The third project approved was that for the creation of a bowling alley with a number of service centres such as restaurants, arcades and shops.