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​Waterloo Investments Limited Remains Deterred Despite NEAC’s Rejection of the Project

Waterloo Investments Limited has threatened to explore as many avenues as it takes to ensure that the Port of Belize Cruise and Cargo expansion project is successfully completed. The promise from waterloo comes after the Department of the Environment (DOE) took NEAC’s recommendation and rejected the project. Waterloo issued a release this evening saying, quote, “Waterloo intends to fully exercise all its available rights including but not limited to the appeal process under the Environmental Laws of Belize, judicial review of a NEAC decision clearly tainted with illegality and irrationality and treaty rights under the Bilateral Investments Treaty between Belize and the United Kingdom. Waterloo also intends to seek full disclosure under these legal processes of all submissions made by the competing cruise port projects being developed by Stakebank Enterprise Ltd (“Port Coral”) and Portico Enterprises Ltd (“Port of Magical Belize”), to the DOE and NEAC with respect to their applications for environmental clearance, to ensure that Waterloo has been granted fair and equitable treatment by these bodies in the context of its own environmental clearance application.” End of quote. But Waterloo did not end there in its release, the company went on to reiterate that there were members of NEAC that solicited bribes from them and because they did not play along the project was rejected. Going even further, Waterloo noted, quote, “The Board of Waterloo is satisfied that NEAC’s denial of environmental clearance and the DOE’s rubberstamping of that denial is fundamentally flawed and comes against the backdrop of provable requests for bribes from certain NEAC members and a discredited DOE whose Chief Environmental Officer was recently obliged to retire for highly questionable decisions related to another cruise port facility under his watch.” End of quote.