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Why did THA agree to BOLT arrangement?

Published: 
Tuesday, October 16, 2012

 

The Build-Own/Operate-Lease Transfer concept and variations thereof have been successfully used locally and internationally for large projects for many years. What determines which variation is used depends on the circumstances, financial and otherwise, of the institution requiring the services.
 
I read with considerable interest the press release by Rahael Holdings Limited with respect to the transaction with the Tobago House of Assembly for the Administrative Complex and two red flags come to mind immediately.
Firstly, how is it that RHL came to approach the THA with the BOLT proposal which was apparently accepted without the THA inviting (tendering procedures) other possible interested parties to compete?
 
Secondly, with no shortage of state-owned lands in Tobago, why was it necessary to purchase that parcel of land for $12 million from the RHL Group of Companies. It is time for the politicians to realise that neither the state nor any arm of the state can continue to flinging taxpayers’ monies left, right and centre without any consequences. The population is no longer as naive as before. 
 
Annette Singh
via e-mail
 
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