Executive Director of the National Industrial and Commercial Investments Limited (NICIL) Winston Brassington says the company created to manage the construction and operation of the Amaila Falls Hydro project is winding up and its officials are departing. This was confirmed in an email communication by President of Sithe Global Brian Kubeck who said, “Yes, we are in the process of winding up. As is typical in project finance deals like Amaila, Sithe Global had been paying for the third party costs associated with the due diligence being conducted by KDB and CDB. We are no longer funding these costs. As such, neither IDB nor CDB are continuing their work on the Amaila Falls Hydropower Project.”
Meanwhile Prime Minister Sam Hinds said government may be of a mind to provide the opposition with a full project document as called for by APNU Member of Parliament Carl Greenidge and others.
This is following an official announcement by Sithe Global last Sunday that it was exiting the project because of a
