Sept., 14, 2013

RE: “BVI-based company offering to buy Marriott building –Ramjattan -gov’t still seeking $$, investors to finish project”

The claims made in the above noted article published in Stabroek News September 13, 2013, are absolutely untrue.

Chairman of Atlantic Hotel Inc. (AHI), Winston Brassington told Stabroek News that AHI is in the closing stages of a deal with a foreign investor and that the name of this investor will be announced when there is financial close. In general, private investors are usually reluctant to make premature public disclosures about their business and in this case there is greater apprehension to do so given the hostile and unwelcoming political environment created by the Opposition parties. Nevertheless, the private investor is aware, and acknowledges, that given its intended relationship with the Government of Guyana, it will be required to make a public announcement which it is prepared to do at the appropriate time.

Construction to the Marriott Hotel and Entertainment Complex remains a priority for the Government of Guyana. While construction to the outer shell of the building is complete, design works on the interior continues requiring great care and review in order to ensure that all aspects of design and construction achieve the Marriott standards for functionality and operations.

According to Khemraj Ramjattan, Government was offered by a British Virgin Islands-incorporated investor to buy the building as is for US$10M as the Government is “finding it difficult to attract the investors and syndicated loans” to complete the hotel. This is not true and an inaccurate reflection of where the project stands to date. However, it has become a norm and acceptable for politicians and journalists to ignore the truth or facts in order to create doubt and mistrust in public officers, projects and general progress.

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