Above: the agreement’s signing in Antigua (Photo: ABG)

By the Caribbean Journal staff

Antigua and Barbuda’s government has signed a memorandum of understanding on a new hotel and housing project.

The MOU is a “statement of the mutual intent and desire of the Parties,” the government said in a statement.

The project will include a hotel and a “high-priced housing construction project,” both of which will begin construction in less than 18 months, the government said.

Antigua and Barbuda Prime Minister Gaston Browne signed the MoU with a pair of St Kitts and Nevis companies called Technology, Development & Investment, Ltd and Devcon, Ltd.

The latter is a regional construction company with a location in St Kitts.

Vitaly Kryuchkov signed on behalf of the firms.

The agreement is the second high-profile project to come on stream since Browne’s Antigua Labour Party won the country’s June elections, including a more than $740 million project signed with a Chinese investor.

The government did not reveal further details on the companies or the size of the project.