The South Roads Rehabilitation Project comprises of the Banse to La Haut Road and the Laborie village main road.
Prime Minister and Minister for Finance, Hon. Dr. Kenny D. Anthony outlined the terms of the guarantee.
“The interest is payable at five percent per annum based on the reducing balance,” he said. “The payment period shall be five years commencing on May 31, 2016 of three months of the issuance of the takeover certificate, whichever or whatever date as agreed to in writing by the government and Construction Industrial Equipment Limited. The payment amount shall be made by equal quarterly payments of every year of the payment period.”
Hon. Dr. Kenny Anthony also made note of the requirements of the project.
“As per employer requirements, the scope of work includes drainage, road pavements and shoulders, where it is technically feasible and required; pedestrian sidewalks which is technically feasible, slope stabilization, in fact substantial slope stabilization, bus stops, lay-bys and bus shelters, road markings, signage and of course, road safety inputs.”
The South Roads Rehabilitation Project will cost approximately $31 million dollars.