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- Operations
- Ackendown Newtown Development Company Limited
Ackendown Newtown Development Company Limited
Jamaica
Borrower | Ackendown Newtown Development Company Limited |
Financing Type | Private Sector & Trade Finance |
Instrument | Private Sector Debt |
Focus Area | Multisectoral |
Approved | 16.06.2004 |
Signed | 02.10.2004 |
Status | Completed |
Loan Administrator | OPEC Fund |
Co-financiers | Sponsor Contribution, CDB |
OPEC Fund Contribution (US$m) | 10.00 |
In Jamaica, the tourism industry is the country’s leading foreign exchange earner. ANDCo is a special purpose company formed to build, own and lease a 360-room resort hotel in Westmoreland on the south coast of Jamaica, within easy reach of Sangster International Airport in Montego Bay. The project is a public-private partnership undertaking and will be a major employer in a highly underdeveloped region. It will be managed and operated by the renowned Sandal’s Group and should act as a catalyst for other tourism projects in the region.