(MENAFN- Mid-East) The Prime Minister of St. Kitts and Nevis, Honourable Dr. Terrance Drew, has emphasised his commitment to transforming St. Kitts and Nevis into a sustainable island state. During his visit to Dubai, taking place from 10 to 19 April 2024, the Honourable Dr. Drew had the opportunity to meet with the Al Maktoum family, the ruling Royal Family of the Emirate of Dubai, as well as other international partners in Abu Dhabi, Dubai and Saudi Arabia, to discuss renewable and geothermal energy.
Honourable Dr. Drew stated“Geothermal energy will also be at the centre of discussions. This potential holds promise for our developing nation as a clean source of energy which will help us to transform into the sustainable island state.”.
The results of these gatherings in the Middle East hold promise for pushing forward the twin federation's sustainability agenda.“Successful partnerships forged during this time can pave the way for the implementation of St. Kitts and Nevis' innovative geothermal projects and serve as a model for other small island states.”.
Building effective collaborations during these meetings will lead to progress in implementing St. Kitts and Nevis' groundbreaking geothermal initiatives, setting an example for similar small island nations to follow.
Not only will this engagement benefit the twin federation's sustainable development, but it will also be an opportunity for investments through the Citizenship by Investment (CBI) Programme.“I will also travel to Dubai where I will participate in a CBI panel discussion to discuss our programme as it is now being repositioned,” noted Honourable Dr. Drew.
The Government of St. Kitts and Nevis successfully secured a US$40 million loan agreement with the Saudi Fund of Development (SFD). The financial assistance will support the development of the geothermal project.
“This project is one for the history books, it will enable St. Kitts and Nevis to significantly reduce its reliance on fossil fuels, thereby lowering its carbon footprint, preserve its natural resources, and contribute to global efforts to combat climate change thus ensuring a healthier environment for future generations. During the development phase of the project, we will create new employment opportunities, drive economic growth, and foster sustainable development across both islands and the wider region,” Honourable Dr. Drew added.
The Prime Minister reiterated his Government's dedication to involving local communities in a renewable energy project during talks with Dr. Tajeddine Seif, Chairman of the K&K Group.
Honourable Dr. Drew attended the signing of a Memorandum of Understanding (MoU) between Siemens and the K&K Group in Dubai. The signing ceremony took place at the Siemens Office at the Expo Pavilion in Dubai during Honourable Dr. Drew's official visit to the United Arab Emirates (UAE).
Dr. Seif affirmed his company's commitment, along with partners like Siemens Energy, to lead the development of renewable energy infrastructure, particularly integrating geothermal energy for grid stability. The project aims to create new employment opportunities, drive economic growth, and boost sustainable development in St. Kitts and Nevis and the wider Caribbean region. Honourable Dr. Drew expressed gratitude for investor confidence and anticipation for the project's transformative impact. More details will be shared as the collaboration progresses, with a commitment to keeping the public informed.
Capital Projects:
Earlier this month, Honourable Dr. Drew had the platform during 'The Roundtable' discussions to expand on various capital projects to develop and diversify the economy.
These capital projects are designed to mix small and large projects, each of which has been budgeted for this year. The solar project has been revamped and restructured to be successfully launched.
Additional investments include St. Peter's Road, NeedMust Land, Conaree Stadium, a two-million-gallon desalination plant, construction of Hotel Indigo, a new hospital, and housing initiatives.
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