Cabo Rojo tourism project: Two consortiums begin investment process

Two consortiums recently made their financial and legal presentation to become investors with the State in the Cabo Rojo Tourism Development Project, in Pedernales, informed Sigmund Freund, general director of Public-Private Alliances.

“These presentations show that there is interest in participating in the project being developed in the south of the country. The private investment will arrive at the end of the year, what happens is that the process has to be done because we cannot festinate such an important project,” he said.

He recalled that in the first phase, which includes nine hotels, and the State has been making progress, but the others have to be built with funds from the private sector.

He said that the total investment of the first three hotels to be built in that province would be US$400 million and that US$600 million of capital is being sought, which would be the amount to be contributed by the private sector.

“Then we will be contracting financing jointly to the private sector,” Freund added.