Above: Charlestown, Nevis (CJ Photo)

By the Caribbean Journal staff

Nevis could soon be the site of a planned $400 million tank storage facility for refined and unrefined hydrocarbon products, the company announced Tuesday.

The project, which could bring 150 permanent jobs to the island, is begin undertaken by Canadian Global Investment, which has reportedly earned rights to lands in Nevis’ Pembroke Estates for the facility.

“We welcome the investment,” Nevis Premier Joseph Parry said. “It is part of our strategy to diversify the economy.”

The announcement comes after talks between Parry and Canadian Global Investment CEO Bill Powdar earlier this year in Boston.

“We agreed that they had to do a serious environmental impact assessment by a top international firm,” Parry said. “They have indicated that they have their finances worked out, that they have contracts with their suppliers and they actually have an agreement with a land owner here on the island of Nevis to purchase a bit of land at Pembroke Estate in the southwestern part of the island of Nevis away from the population.”

The Premier said his government had looked at other situations, like that of neighbouring St Eustatius, to ensure that the facility would not contaminate the local waters.

“[St Eustatius] has a similar facility, and we see no contamination,” he said.

The Premier also claimed the facility would not jeopardize the island’s geothermal project.

“This in no way will slow down the geothermal project,” he said. “We will continue to work on the geothermal project. It is not only that we will have alternative energy for Nevis but we will be able to export.”