TriniRealty.com

The People’s Partnership is now saddled with a $109 million debt to be paid by taxpayers—accrued interest on the billion-dollar Broadgate Place. The vision was expected to form part of the metropolis former prime minister Patrick Manning had envisioned for the capital city. According to a well-placed source, whether the Government opts to scrap or continue the controversial project, they are legally bound to cover the debt at the expense of taxpayers. The debt, a Sunday Guardian investigation unearthed, forms part of a government-guarantee US$20 million loan granted by the First Caribbean International Banking (FCIB) and Financial Corporation. Investigations revealed that the Government failed to make timely payments resulting in the high interest rate.

Businessman Derek Chin has grand plans to spend close to $1 billion to expand the MovieTowne cineplex and entertainment centre located at Audrey Jeffers Highway, Port-of-Spain. A marina, hotel and condominiums, sport and cultural wax museums (for steelband, king and queen of Carnival, Brian Lara, Dwight Yorke and politicians) would form The Gateway Project—the third and final phase of MovieTowne. Chin hoped that the massive development would be a joint public-private venture with the People's Partnership Government. Chin believes the completed project would revolutionise the capital city.

The decision to build a new PriceSmart outlet at La Romaine is a reflection of the positive state of the local economy, company president Jose Luis La Parte has said.

PriceSmart generated $1.2 billion in sales in Trinidad last year.