Government Strikes Deal to Acquire Port of Belize at Reportedly Half the Asking Price

Government Strikes Deal to Acquire Port of Belize at Reportedly Half the Asking Price

As we noted, the government is reportedly acquiring the Port of Belize at a massive discount.  While Ashcroft wanted 370 million Belize dollars for the Port, and just over two hundred million Belize dollars for the arbitration awards, government was able to negotiate those asking figures to an estimated fifty percent lower.  Prime Minister Briceno noted that the negotiations were intense, considering the king’s ransom that Lord Michael Ashcroft was proposing.

Interestingly, the Port of Belize’s history dates back to July 1980 when it was first opened under the then Minister or Works, Fred Hunter. 

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