Due diligence for Amaila hydro project at `advanced stage’ – Finance Minister

Due diligence for the Amaila Falls Hydropower Project is at an advanced stage, according to Minister of Finance, Dr Ashni Singh.

Singh stated at a People’s Progressive Party  press conference on Monday that the Amaila Falls Hydropower Project preparations were progressing, stating that the IDB, the China Development Bank and the project’s lead developer Sithe Global Group were all working to address any concerns over the construction of the project.  Singh said that the “major international partners are at an advanced stage of their due diligence process and that due diligence process once complete we should see the project approved.”

He refused to address any apprehensions the Inter-American Development Bank (IDB) may have regarding its proposed US$175 million investment in the project.  Singh stated “that work is not yet completed and I wouldn’t want to pre-empt the conclusion of the