The Opposition calls for full transparency from the Government
“The Opposition calls for full transparency from the Government on the future of the ReGen project and whether the September 30th deadline for Financial close was met.”
I wrote to Premier Panton on September 29th to ask that he update Parliament, and the country on Project ReGen during the special meeting that was called for October 4, 2021. Unfortunately, no such update was provided by the Premier.
The letter, which is attached, in part states:
”As you are aware, the previous Government signed a Project Agreement with DECCO, the preferred bidder, earlier this year. That Agreement established the contracting framework but, as is usually the case in such projects, it left the parties to move towards financial close over the next six months. A long-stop date of 30th September 2021 was specified, by which time financial close should be achieved.”
“ There are potentially dire consequences if the financial close is not achieved. Most obviously, unless an extension is put in place, the project fails. The immediate consequence of that would be that the Government would become liable for millions of dollars of abortive costs but, more significantly, it would leave Cayman with no solution for its waste problem with the available space at George Town landfill fast running out. That would clearly be an untenable position. Therefore, I would hope that if, as I suspect, financial close is not achieved by 30th September, the Government has reached an agreement with DECCO on a suitable extension.”
“Coming just after the long-stop date, the sitting of the House on 4th October gives an opportunity for your government to make a statement about progress with Project ReGen. If the Government has achieved financial close, the statement would allow you to announce the terms and tell the country what the next steps in taking the project into implementation will be.”
Receipt of my letter was acknowledged by the Premier’s Office, but regrettably, no update on this important project was forthcoming in Parliament. Indeed, since coming to office, the government has made no meaningful reference to the ReGen project that I can find. The Government’s Strategic Policy Statement also does not refer to it. This causes the Opposition much concern given the importance of the ReGen project to our Islands.
I am hopeful that if the September 30th. deadline has indeed passed, with no agreement in place, that an extension has been agreed between the parties. I am also hopeful that a suitable action plan has been established to ensure that any new deadline can be achieved.
Unfortunately, The Government has missed a timely, opportunity to update the country on this important project. The Opposition, therefore, is calling for full transparency from the Government with regards to the future of the ReGen project and the closure of the environmental hazard known as the George Town Landfill.
To read full letter to government click here
Submitted by: The Progressives