Loan Agreement To Enhance The Territory’s Electrical Infrastructure

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loan_agreement_to_enhance_the_territorys_electrical_infrastructure

The BVI Social Security Board (SSB) and the BVI Electricity Corporation (BVIEC) has inked a $35M loan agreement to fund the Phase V Development Project to upgrade the Territory’s electrical infrastructure.

On Thursday, September 3, the House of Assembly passed a resolution to guarantee the $35M loan facility.

Phase V includes the extension and expansion of the BVIEC’s facility by adding two new WARTSILA generators, a new central control room, and transmission cables between Pockwood Pond and Long Bush.  This phase commenced on March 23 with the turning of the soil at the Pockwood Pond Power Station.

The Government of the Virgin Islands is committed to providing a world class infrastructure for the people of the Virgin Islands and its visitors.

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