The principal of Brewtech, the firm that has agreed to reconstruct and redeem the beer factory at Crabbes says it plans to raise six million dollars for the project.
The firm has upgraded the old factory at Crabbes; it showed photos of the “before” and “after” at the site and noted that it has invested more than $3 million dollars.
The government says the eventual investment amount will approach $20 million dollars and will result in more than 35 jobs when it opens; growth in sales will lead to its expansion in subsequent years.
The principal acknowledged that Antiguan investors showed no appetite for the investment in the Brewery. However, it is looking to raising another $6 million dollars to start production.
An arrangement is being worked out, based on the data submitted as a result of an intensive research, to raise the investment capital to achieve the opening of the brewery. That will likely occur before the end of 2019.
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Come on Sir Lester this is your brainchild since 2014. Six million is peanut change for the top dawg administration. Sir Lester my advice to you remove your name from this project and replace with Novel Richards and this project will complete in three months.
Who the hell cares about beers. Let’s raise some money for farming and a dissalting plant.
You gotta understand the logistics behind this. Quick turnover in quicker time. We don’t by have enough farmers to supply our market. This is macro, not micro
35 jobs? That’s all??
2o million dollars investment will result in 40 jobs.
The production will probably add significant value to the lives of Antigua and Barbuda and the OECS.
I can see this investment working hand in hand with medical benefits to reduce the cost of medical care and their drive in preventative medicine.
This goes well with national development since 40 persons will gain employment and the company will probably contribute $0 in direct taxes.
One step closer to the economic powder house. One step backwards after the great achievement of the first university campus in the country
Just what the Doctor ordered.Beer,Beer and more Beers for the people.Where by the people would drink and be drunk like skunks.Like we do not have enough alcoholic beverages in Antigua and Barbuda.Just hoping those young persons I see puking their guts out at Carnival pasts.Curtail their intake of booze this year.And stop puking down the place.
Open it to the public, present a prospectus on how you will make money, and if it is a sound plan I am sure people will invest
As usual my people have a lot of chat how they love their country, but ask them to invest in it and they rather lave their money in the bank to collect 3% interest. But they will complain how government is allowing the foreigners to come here an take over the economy. I guess they are waiting to see if the company will make money and than they will want to invest. But that will be too late.
As the PM always use to say, we are risk averse. I believe we need a company here that will educate us in investments and how to calculate your risks. We need a Venture Capital Company here. Perhaps Hadeeed can start one. And then channel the funds to support the areas in the economy where it is most needed. Business people should not have only the option of going to the bank for a lone. They should be able to give none publicly issued securities. Most of the time loans are not the best financing for a company as they place an even greater burden on the cash flow. When Cash Flow is what the business is in need of.
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