The Cabinet of Antigua and Barbuda has begun reviewing a proposal from a consortium of international investors to develop a US$100 million horse racing and equine industry that supporters say could position the country as the Caribbean’s leading destination for horse racing, breeding and equine services.
Director General of Communications Maurice Merchant, speaking during Thursday’s post-Cabinet media briefing, said the investors presented an ambitious master plan for a fully integrated horse racing and equine ecosystem designed to attract international investment, tourism and racing events.
Merchant said the first phase of the proposed development is estimated to cost approximately US$25 million.
He said Cabinet was advised that the project extends well beyond the construction of a racetrack.
According to Merchant, the master plan includes an international-standard racecourse, a thoroughbred breeding centre, an equine veterinary hospital, a biosecurity and quarantine centre, education and training facilities, hospitality and tourism amenities, and supporting infrastructure intended to establish Antigua and Barbuda as a regional hub for the equine industry.
Merchant said the investors outlined several anticipated economic and social benefits, including the creation of employment opportunities, increased visitor arrivals, expanded business prospects for local enterprises and the development of international partnerships.
The proposal also includes professional training programmes and opportunities for youth involvement through equestrian sports and related industries, he said.
Given the scale and complexity of the proposed investment, Merchant said Cabinet determined that additional review is necessary before any decisions are made.
He said the investor group will return to Cabinet for a series of follow-up presentations to provide further details on the project’s financial model, regulatory framework, environmental considerations, implementation timeline and investment structure.
Merchant said Cabinet will examine those technical and operational aspects before deciding whether to proceed with the proposed development.
This article was originally published by Antigua News Room. Read the original article here: Antigua and Barbuda Cabinet reviews US$100 million proposal for horse racing and equine industry.