On February 25, minister of trade, industry and investment of the Republic of Trinidad and Tobago signed the business contract for the transshipment port and dry dock project and the Endeavour business development project in the country.
With a contract amount of nearly $500 million and a construction period of 36 months, the transshipment port and dry dock project involves construction of a large container and a bulk transfer terminal; deepwater channel excavation, basin dredging, offshore reclamation and terminal land construction; and construction of a large dry dock and an outfitting terminal for ship building and repairing.
The project will fill the gap of Trinidad and Tobago in international shipping logistics industry and the ship building and repairing industry, attract more investment in international shipping trade and overseas investment, and promote the economic development of the country.
With a contract amount of over $90 million and a construction period of 24 months, the Endeavour business development project involves rerouting of the original roads, and construction of municipal roads, cross-river bridges and water & power facilities in this area; project area clearing, site leveling and foundation treatment; construction of facilities of the national training center, the business center and relevant auxiliary business facilities.
The project will promote the economic development of the country’s backward central areas, make local industrial types more diversified, promote the development of upstream and downstream industries, stimulate local employment and promote the balanced development of the country’s economy.
Signing of the business contract for the two projects has achieved CHEC’s breakthrough in Trinidad and Tobago, has further enhanced its brand influence in Latin America and will play a positive role in promoting its future market development.
Press Release, March 25, 2014