The Government has paid 65 Crown Point property owners $104 million for acquiring their properties to build a new terminal and associated works, at the A.N.R. Robinson International Airport in Crown Point, Tobago.
The associated works include six commercial, ten residential, and five (mixed home business properties).
The sum represents payment for 14.3 acres of the 53 acres needed for the project.
Confirmation came from the Ministry of Finance on Friday, October 2nd.
In a release, the government said it had compensated an additional 24 property owners, bringing the total number of compensated property owners to 65.
“To date, sixty-five (65) property owners have negotiated and settled with the State at a total cost of approximately one hundred and four million dollars ($104,000,000),” the release said.
It noted that payments to property owners continue through the State entity National Infrastructure Development Company Limited (NIDCO), based on recommendations from the Land Acquisition Consultant, ACQ & Associates.
The release added: “The State will enter and take possession of settled empty lands as soon as compensation is paid.”
