Businessman Derek Chin said he believes that Government Ministers including, Prime Minister Dr Keith Rowley, were misinformed regarding his $1 billion Streets of the World project.
Recently, Chin said he was taken aback when he heard senior ministers in this PNM administration referring to his project as a “Government project” where he was allegedly given a billion dollars by the previous administration, the People’s Partnership government, to have the project up and going.
However, Chin refuted these statements saying the project was his and all he was negotiating with, with officials from the last Government, was a lease that made “economic sense.”
“It is my project, to be developed by Chin’s company, Dachin Enterprises. My idea. When I submitted the Streets of the World project everyone loved it. The last government saw the value of it from all aspects,” Chin said.
He also disclosed to the T&T Guardian that his project, once on stream, would be privately funded. An investment of $500 million, “just to start. So, no tax payers or Government money will be involved.”
Both Price Waterhouse and Ernst and Young were the principle negotiators.
Chin explained that the Streets of the World project was all about taking T&T’s culture—Carnival, steel pan, bandleaders, music and placing it in a world class show case.
The Streets of the World project has been criticised by former president of the Joint Consultative Council (JCC) Afra Raymond who claims it is in breach of Central Tenders Board regulations. He said the Request for Proposals (RFP) process used in August 2011 by the Ministry of Planning and Sustainable Development was improper and voidable since the assessment rules were published one month after the closing date.
The only obstacle in the way for Chin is the signing of the papers to acquire ten acres of land allotted to Dachin Enterprises so that construction can begin. Chin was charged $130 million for ten acres.
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The Streets of the World project will consist of 22 acres of ultimate destination, appealing to the entire Caribbean.
The project is expected to boost Trinidad’s tourism, by extension the economy and also, create employment for thousands of people.
Officials of Disney and Hettema Group, who specialise in uniquely creative designs for theme parks, museums and cultural attractions, have already visited T&T and held extensive discussions with Chin on the project.
One of the main attractions will be the Main Street, a re-creation of Frederick Street, downtown Port-of-Spain, in the 1930s complete with a tram car. Chin explained that the streets will reflect the rich culture of Trinidad and there will be a Madame Tussaud’s Wax Museum highlighting T&T’s Carnival and its history, the history of the steelpan and calypso.
There are also plans for a live entertainment theatre on the site.
Also, different streets highlighting the different cultures of all the people that came to T&T and settled including the Indians, Chinese, Africans, Europeans and Syrians.
The development would also incorporate an aquarium featuring the leatherback turtles, fishes of the Caribbean and a coral reef.
There will also be a Ferris wheel and a MovieTowne Eye, which is similar to the Orlando Eye.