Bau Panel Systems to build affordable homes in Antigua & Barbuda5 July 2012
The Government of Antigua & Barbuda has signed an investment deal with Bau Panel Systems Ltd. for the construction affordable homes.
Bau Panel Systems will build 5,000 low-to-middle income homes at four sites on land provided by the government which includes Bolans, Five Islands, Lightfoot and Lyons. The manufacturing plant will be situated at Crabb's Peninsula.
The plant, which will manufacture the company's building system, will make Antigua the hub for the Caribbean and South America.
As part of the agreement, the company will also develop other amenities, recreational areas, bus stops and mini marts in the community.
According to Bau Panel Systems Chairman David Kendrick the houses will range in cost from $50,000 to about $148,148. The company will also provide financing, primarily for low-income clients in the first instance. Construction of the plant is expected to commence soon with about 1,200 jobs created in the process. The contribution to the economy is estimated to be about $200 million.