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New arrangement for Shaw Park project
The Tobago House of Assembly (THA) has not terminated its project management contract with the National Insurance Property Development Company Limited (Nipdec) for construction of the Shaw Park Cultural Facility. Instead, a new arrangement has been put in place and contractor York Structures Limited (YSL) is now responsible for the completion of the project with a fixed price, fixed date of completion, and agreed penalties if there is any unreasonable delay.
The new arrangement follows a review of the project by EQS Limited on behalf of the THA. The review outlined a way forward to complete the project with a defined scope of work, along with the necessary controls in place. This includes termination of the existing contract between Nipdec and YSL, a new memorandum of understanding (MOU) between Nipdec and YSL that fully defines the scope and duration of works, the sum to be paid to YSL and payment terms.
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