News

Trinidad to Spend $130M in Chinese Funding on Business, Industrial Parks

By: Caribbean Journal Staff - June 11, 2013 - 3:22 pm

Above: Port of Spain (CJ Photo)

By the Caribbean Journal staff

Trinidad will be investing $130 million in funding from China on the construction of seven business parks, Trinidad Prime Minister Kamla Persad-Bissessar announced.

The projects, which will cover 592.1 acres of land, are part of a wider $3 billion China’s government is offering to its partners in the Caribbean region.

The leasable space would be 355.7 acres.

“This would give an immediate boost to our country’s economic activity,” the Prime Minister said this week at the Caribbean Investment Forum.

One Chinese shipping and dry docking company has already expressed interest in partnering with Trinidad’s government on the development of dry docking and ship building facilities, Persad-Bissessar said.

Following China President Xi Jinping’s visit to Trinidad last month, the two countries announced the construction of a $150 million children’s hospital in Trinidad.

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