T&T gets $1.8B for Couva hospital and sporting facilities

Model of Couva Children's Hospital

The Government of Trinidad and Tobago and the EXIM Bank of China on Friday signed a $1.8 billion loan agreement for the Couva children's Hospital and other construction projects.

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The money is for the children’s hospital and three national sports facilities in Couva, and three multi-sports facilities in other parts of the country. The total cost of the sports facilities will be $720.3 million. 

Finance Minister Larry Howai and the bank’s vice-president, Zhu Hongjie, signed the agreement at the Trinidad Hilton.

The contractor for the projects is the Shanghai Construction Group of Companies. Zhu said the group is one of the best construction companies in China. "We believe that under Shanghai, the two projects will be completed on time with the quantity and quality of work required of them guaranteed,” he said.

About 40 per cent of the work on the projects would be handled by locals.