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Time is Running Out for Proposed Port of Belize Expansion #542366
05/15/20 05:45 AM
05/15/20 05:45 AM
Joined: Oct 1999
Posts: 72,021
oregon, spr
Marty Offline OP

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Marty  Offline OP
A mega project in the tourism industry has been on the drawing board for years. Waterloo Investment Holdings is proposing to invest two hundred million dollars to expand the Port of Belize so that much bigger cargo ships can come in through a deeper channel. But the investment has been languishing for some time going from committee to committee. This morning, Lord Ashcroft said time is running out.

Lord Michael Ashcroft


“It is a proposal to handle the bulk handling and cruise terminal. Because the cruise liners are saying that as their ships get bigger in the future that within 2 to three years time they don’t necessarily want to have to come to ports that have tender their passengers in. So the time is running out for Belize. The discussions on doings something here’s been going on for a number of years and of course with the pandemic on and the uncertainty that there is. This is project that there are three projects running, you have the Feinstein one up at Stake Bank but that is a tender back in To Belize City and you have a Gegg one farther down the coast which I suspect will have difficulty financing and you have the one from Waterloo but the project is of such a size that unless and until it can be embraced by a government to work together to do something it’s probably going to babe very difficult to do.”

Channel 5

Re: Time is Running Out for Proposed Port of Belize Expansion [Re: Marty] #543160
06/25/20 04:40 AM
06/25/20 04:40 AM
Joined: Oct 1999
Posts: 72,021
oregon, spr
Marty Offline OP

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Marty  Offline OP

The Waterloo for Waterloo’s Big Port Plan?

British-Belizean billionaire Lord Michael Ashcroft has been in the country for months, perhaps hiding out from the COVID outbreak in the UK, and maybe trying to soften up his image just a little. We've seen him profiling all over Twitter like an "accidental tourist" - and even loading himself unto a "Maria Bus" outside Orange Walk.

And while Ashcroft is attempting some on the ground image rehabilitation, he could be cruising for another head on collision with the Barrow Administration next week. Reports say that the CCJ's decision on Government's takeover of two registries will be coming down next week. That's the IMMARBE and International Business Companies Registries, formerly owned and operated by the Ashcroft alliance, until government acquired them in June of 2013.

The matter has been in court for years, and the final judgement is expected from the court of final appeal next week. If government loses, the damages could be in the tens of millions of dollars.

And with that heavy matter hanging in an election year, and Ashcroft making it known that he's looking forward to seeing a new Prime Minister in office, it seems the UDP Cabinet is not inclined to entertain the proposed port plan from Waterloo Investment Holdings Limited. As we have reported that 200 million US-dollar package is for a Port of Belize makeover, expanding bulk handling and building a cruise terminal on the Port's property.

It's a big plan, but unofficial reports to 7News suggest that it did not find favour in Cabinet, which rejected it yesterday. We could not get comment or confirmation of this from the Prime Minister of the or the Minister of State in the Ministry of Investment.

We hope to get comment from the PM when he hosts a virtual press conference tomorrow.

Channel 7


Re: Time is Running Out for Proposed Port of Belize Expansion [Re: Marty] #543206
06/27/20 05:42 AM
06/27/20 05:42 AM
Joined: Oct 1999
Posts: 72,021
oregon, spr
Marty Offline OP

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Marty  Offline OP

Confirmed: Waterloo DOA

Today was House Meeting Friday in Belmopan - and while enough sparks flew across the floor, we start outside the house where we interviewed the Prime Minister about a number of matters of pressing national interest.

First, there's the proposed investment at the Port of Belize by Michael Ashcroft's Waterloo Investment Holdings Limited. That 200 million US-dollar proposal is for a Port of Belize makeover, expanding bulk handling and building a cruise terminal with on shore berthing

Two nights ago we told you about reports that Cabinet had rejected the proposal. The Prime Minister confirmed it today - but, for the PM, who is always lavish in his explications, he almost seemed to be biting his tongue on this one:

Reporter
"Waterloo, I'm told that it was deliberated in the cabinet earlier this week. What is the status with that investment proposal?"

Rt. Hon. Dean Barrow, Prime Minister
"Government is not prepared to proceed with it at this stage. I don't want to get in the details of the deliberations in cabinet and this not ought to be taken as saying anything more than at this juncture for all sorts of reasons. Cabinet did not feel that we ought to proceed. I really don't want to take it beyond that."

Channel 7


Re: Time is Running Out for Proposed Port of Belize Expansion [Re: Marty] #543640
07/22/20 04:02 AM
07/22/20 04:02 AM
Joined: Oct 1999
Posts: 72,021
oregon, spr
Marty Offline OP

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Marty  Offline OP

CWU Questions Role Of Receivership in Waterloo Mega Investment Plan For Port

The 200 million dollar Waterloo investment plan for the Port of Belize is going to a Department of Environment public consolation tomorrow.

Now, weeks ago, the Prime Minister confirmed that this same investment plan had been rejected by Cabinet - but the Department of the Environment says the Public Consultation the Cargo Expansion and Construction of Cruise Terminal & Cruise Tourism Village Project, Port of Belize will proceed tomorrow.

Today, the union president asked what's up with that and questioned the port's status as being in receivership:

Mose Hyde, President, CWU
"It seems bizarre to me that you would have the government saying that a Cabinet decision has turned down that terminal and then you have the DOE conducting consultations. That's very weird to me even in a country where weird things are a daily occurrence, it's very bizarre."

"Fundamentally how can you seek to exploit your position as a receiver. The position of the receiver is simply to look after the interest of the creditor. The inherent conflict of interest exists if a receiver thinks in an owner kind of way because how can you avoid being accused of not allowing the payment to be settled so that you can take advantage. It's a natural built-in conflict of interest. If the receiver starts to act in a way to give ownership to the creditor. The receivership is simply to procure what belongs to the creditor. The outstanding monies that are to be given there. What we have seen and what we have experienced here is a receivership that has reached its boundaries and so what you have to depend on is a good character and I can say point blank there's a shortage of good character in PBL. So if you have a shortage of character in dealing with something that is as important as the port of Belize where you consistently create an industrial atmosphere that jeopardizes the flow. The smooth flow of business at this point how will you even be thinking about biting off more and how can a government engage with you seeing your conduct and your behavior controlling this most critical national asset."

And, in another update, the Public Consultation on the Waterloo Investment at the port has been postponed. The DOE says that because of COVID 19 it is suspending All public consultations temporarily.

Channel 7


Re: Time is Running Out for Proposed Port of Belize Expansion [Re: Marty] #543705
07/25/20 05:01 AM
07/25/20 05:01 AM
Joined: Oct 1999
Posts: 72,021
oregon, spr
Marty Offline OP

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Marty  Offline OP
PM Says Waterloo Proposal Rejected Based On Port’s Labour Relations

The PM added that the Port of Belize's inability to sign off on a collective bargaining agreement with the CWU for the past 16 years was the deal breaker in Cabinet when the 200 million dollars Waterloo port expansion project came up for approval:

Rt. Hon. Dean Barrow, Prime Minister

"But then came the day on which they the port Waterloo ask for government to approve the draft MOU's that they had submitted even as the problems with the workers were still utterly on the boil. When the matter was raised, I encountered a cabinet united in its position, no stevedore solution, no GOB signature. So this is where we are and this is where we stand and they are bleating about the rule of law and their investment being unfairly turned away - is hypocritical and will get them nowhere. The rule of law for present purposes is encapsulated in section 45 of the labour act, the same one they have refused to follow. It is their dishonoring or our regulations and legal codes of our democracy that is at the heat of this drama and it is all of a piece with the historical record of the moving hand, the leopard does not change it spots and the oppressor cannot be allowed to play victim."

Channel 7


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