The Tribune

By NATARIO McKENZIE

Tribune Business 
Reporter

nmckenzie@
tribunemedia.net

A group of Indian investors have committed to developing “at least” a 50 Mega Watt (MW) waste-to-energy plant, that nation’s Honorary Consul to the Bahamas said yesterday.

Speaking at the Bahamas International Investment & Business Forum, Ashish Saraf, Facor Energy’s chief executive, said: “I sincerely hope that you would give us the opportunity to do this and let us give the people of the Bahamas power at an affordable cost.

“We will be using your waste, the waste which comes from cruise ships and homes, and generate power and give it to you at less than half the cost. The group that I bring here has committed themselves to at least a 50 MW plant.”

Minister of Investments, Khaalis Rolle, said the Government was looking at investment opportunities from several markets, and noted that the group from India was looking to invest in the Bahamas.

“We are still looking at emerging markets, Asia, Latin America and the Middle East. We also have a particular focus on our staples, which are Europe and America. There is a group from India that is very much interested in investing in the Bahamas and is here looking at some opportunities,” Mr Rolle said.

“They have diverse interests but I can’t say specifically yet until we have some substantial discussion. Our goal is to go anywhere in the world where there is opportunity for foreign direct investment, and there are some things we need to do to expand our traditional plant of investment, particularly in industry and agriculture and alternative energy.”

Mr Rolle added: “Grand Bahama has tremendous latent potential and I think it is time we now all get on the same page and unleash that potential.

“We are also looking at ways to improve the ease of doing business in the Bahamas. The Bahamas has fallen in the ranking over the past few years. It’s not that we are getting that much worse, it’s just that others are moving at a quicker pace than we are.”