Construction work begins on new Caribbean Star head office

Future home of the new Caribbean Star head office

Friday, November 21, 2003

BASSETERRE, St. Kitts: Construction work has begun on the EC$30 million Caribbean Star Head Office just outside the St Kitts International Airport.

"Presently we are starting to make preparations for the construction of the Caribbean Star headquarters. We are building a site office so we can start construction by the weekend. After the site office we start to lay out the building so we can begin to dig the foundation," Sun St. Kitts/Nevis quoted Stanford Development Company site supervisor Everton Roberts.

The Antigua-based Stanford Development Company Ltd said Kittitians will make up approximately 98 percent of the workforce, expected to peak at 250 during the construction phase, lasting 10 months.,

Sun St. Kitts/Nevis said the project is costing in the region of $30 million, which is seen as an injection of capital directly to the economy.

Earlier this year, Chairman and CEO of the Stanford Financial Group, Mr. Allen Stanford stated his intentions to relocate the head office of Caribbean Star from Antigua to St. Kitts.

This will be part of an overall plan to develop inside and around the Robert L. Bradshaw International Airport. The plans also include the establishment of a Fixed Base Operation (FBO) to handle private jets.

"Our head office will be less than 30 million dollars but when one looks at the other facilities we are building, payroll sub-contractor fees and other expenses, we will be looking over a very short period of time of about 30 million dollars as an injection of capital directly to the economy," Mr. Stanford was quoted as saying. 

The Caribbean Star Head Office which should be ready to open for business next September is one of several capital projects expected to boost the local economy by boosting the rate of real economic growth, creating job opportunities and generating additional foreign exchange.

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