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Contact:
Virnet St. Omer-Fontenelle
Tuesday, April 27, 2004 - The Government of Saint Lucia has signed a
Memorandum of Understanding with geothermal exploration company, United Network
of the Eastern Caribbean (UNEC) for work on finding alternative energy source in
Soufriere.
The US$10 million dollars project is to begin in 6 months’ time and will last
for a period of three year. President and CEO of UNEC, Steven Baker says Saint
Lucia has the right conditions for investment. “One of the reasons we came to
Saint Lucia and what attracted us is the economy here is very strong, it’s very
stable, it has a developing economy. Saint Lucia is doing from our perspective
and from what we’ve seen all the right things in moving forward in establishing
themselves to have a good working future.” Baker said.
Mr. Baker also praised the Office of Private Sector Relations (OPSR) in the
Prime Minister’s Office for facilitating the process which led to Tuesday’s
signing. He says the fact that such an agency exists as a go-between to do the
ground work for setting up shop in Saint Lucia is invaluable.
The project is expected to create employment in the construction sector as well
as employment within the plant.
UNEC has pledged to transfer the technology within five years of operations in
Saint Lucia, with a number of openings to be created in the field of
Engineering.
Prime Minister Dr Kenny Anthony says his government is committed to the success
of the project and thanked UNEC for bearing all the risk and cost of a project
with tremendous economic benefits for St. Lucia.
The benefits include a reduction in the cost of electricity, a lowering in
harmful carbon emissions, and a reduction in the country’s dependence on
imported fuel.
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