{"id":152256,"date":"2022-05-26T11:01:15","date_gmt":"2022-05-26T15:01:15","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=152256"},"modified":"2022-05-26T11:01:15","modified_gmt":"2022-05-26T15:01:15","slug":"investor-plans-to-spend-50m-on-business-park-at-friars-hill-road-cabinet","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/investor-plans-to-spend-50m-on-business-park-at-friars-hill-road-cabinet\/","title":{"rendered":"Investor plans to spend $50m on business park at Friars Hill Road- Cabinet"},"content":{"rendered":"
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The Cabinet invited a developer, who plans to build a business park on Friars Hill Road on land currently owned by West Indies Oil Company, to share the details.<\/p>

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The developer has submitted his plans to DCA and they have been approved.<\/p>\n

He will spend $50 million EC dollars in two phases.<\/p>

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The developer will also place solar-power panels on roof tops, and also build a car park covered with solar panels.<\/p>

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The business park will include a mixed-use center to include a food court, stores, banks, and an array of other businesses.<\/p>\n

It will provide employment for at least 100 workers in the first instance and upon completion additional workers will be hired.<\/p>

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West Indies Oil Company will participate by providing equity in the land.<\/p>\n

WIOC is to be listed on the eastern Caribbean Stock Exchange within 60-90 days and certainly by July 7th<\/sup> 2022; its stock value will likely increase.<\/p>

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Two years ago, the government divested itself of 10% of its 51% holdings by sale to the people of Antigua and Barbuda. The company has grown in value since.<\/p>

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\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

The Cabinet invited a developer, who plans to build a business park on Friars Hill Road on land currently owned by West Indies Oil Company, to share the details. The developer has submitted his plans to DCA and they have been approved. He will spend $50 million EC dollars in two phases. 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