Saint Nicholas Assurance and Development Company (SNADCO) is entering into a fifty-year renewable Public Private Partnership (PPP) agreement with the government of Haiti that will give it control over most of the coastal areas and ports of the northwest peninsula in the state (department) of Nordouest and half of Ile de la Tortue. This will be the largest real estate development project in the Caribbean and will necessarily require the simultaneous development of residential dwellings, agriculture, industry and infrastructure.
One of our projects will bring coal ash to Haiti, where it will be used for concrete, asphalt and other construction materials and gypsum, in combination with coal ash, to rejuvenate the Haitian topsoil that has eroded after many generations of deforestation. Its affiliate companies will build out the harbor at Port-de-Paix to receive large ships, which will allow that city to become a major transshipment center.
The main maritime routes coming from the North Atlantic Ocean surround the Haitian coastline on the way to the Pacific Ocean through the Panama Canal. The vessels pass across the Windward Passage and turn toward the Panama Canal. Today’s Panamax and post-Panamax vessels, after crossing the oceans, often stop at transshipment container ports to offload containers to smaller vessels for delivery to US harbors. Ports in our control are uniquely positioned to become the primary transshipment container port in the Western Hemisphere.
Additionally, the cruise line companies are all looking for more ports of call and we are close to signing a deal with two of them. Each port will have hotels, resorts, casinos. Some areas will be dedicated to agriculture and industry.