Marriott hotel set for 2014 opening
So far, Guyanese taxpayers are the ones footing the bill for the construction of the Marriott Hotel, which is going up on the Kingston foreshore. Just after lunch today, there was little activity at the site, but the government says construction is on course, and the hotel and casino will be opened this year.
But the big question remains about, just who is putting their money into the project, except the government.
Despite pressure by opposition parliamentary parties and a Parliamentary motion to halt Government funding for the project, the government is stubbornly pushing ahead with the project.
The government insists that the project is viable, but it is refusing to make public the studies which justify the project.
The government is so far using tax dollars to fund the project. In the beginning, it handed over 2 billion Guyanese dollars to Shanghai Construction Group International which was awarded the contract to build the hotel.
Private investors are expected to contribute 27 million US dollars. But no one knows who they are and when they will come on board. Republic Bank Trinidad and Tobago Limited was announced as the partner grouping together investors for the project – but nothing definitive has been heard of that arrangement.
In addition, the government needs investors for the entertainment complex and restaurant, but it has so far failed to secure any, or at least it has not named any.
The government’s investment arm, NICIL, which set up a company to build the hotel, will end up spending 21 million US dollars on the project.