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Antigua-Barbuda signs $2 billion investment deal
Published on June 17, 2014 Email To Friend    Print Version

Prime Minister Gaston Browne and director of Yida International Investment Antigua Limited Yida Zhang sign the memorandum of agreement at the Prime Minister's Office

ST JOHN’S, Antigua -- Following an eight-hour long session of negotiations on Saturday, one day after taking up the position of leader of the government, Prime Minister Gaston Browne signed a memorandum of agreement (MoA) with Yida International Investment Antigua Ltd, paving the way for a two-billion dollar investment project in Antigua and Barbuda.

The MoA, which binds Yida to the investment, will result in Guiana Island and surrounding lands transformed with the construction of five five-star hotels, 1,300 residential units, a casino and conference centre, a 27-hole golf course, marina and landing facilities and a commercial, retail and sports facility.

Yida is expected to invest over $200 million annually in the Antigua and Barbuda economy over the next ten years, as well as provide an Antigua and Barbuda presence in China to attract additional economically viable investments.
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