$74 million in Supplementary Funds approved for Port Project

Supplementary Estimates were passed in Parliament on Thursday, November 23 for $74 million to go towards the Port Modernization Project in Kingstown.

The sum represents additional money needed to complete work this year, and money already spent through Special Warrant.

The Supplementary Estimate Bill was tabled by Minister of Finance and Economic Planning, Camillo Gonsalves, who told Parliament on Thursday that “tremendous progress” is already being made on the Port Modernization Project, with some works completed ahead of the scheduled time.

He noted that the total cost of the project is US$247 million and work is being done by the Canadian form Aecon and German engineering company Sellhorn.

The project, which is scheduled for completion by mid-2025 is progressing smoothly, with over 40 per cent of the work already completed.

At present, there are 192 workers employed on the project, and Gonsalves added “we are just about where we should be.”

The minister explained that the $125 million that was budgeted for this year, has already been spent.

Expenditure on the project last year amounted to $108.5 million.

There is still more work to be done before the end of 2023, and a number of outstanding invoices to be settled.

Gonsalves further stated that from May 2022 to October 2023, the port project has injected over $70 million into the local economy.

The money in the Supplementary Estimates represents the difference between the sum that was budgeted for this year, and the sum that was actually spent.

As part of the project, government has already resettled 49 households from Rose Place to Lowmans Bay, and has already compensated fisher folk.

The minister also stated that problems associated with a drought in the Panama Canal will not adversely procurement of material for the project.

He explained that procurement is 92 per cent complete and is “on track and on time.”

One problem however, is sourcing blocks from local block makers, who sometimes fall short of meeting their quota and blocks have had to be imported from overseas.

The minister confidently stated that “the port project is going well.”