Minister of Communications and Works Mark Vanterpool said overall work to rebuild the territory’s electricity grid is estimated to cost $50 million.
Vanterpool said the price tag covers two phases of the reconstruction.
“They (the BVI Electricity Corporation (BVIEC) have an estimate to get back on track between 25 and 30 million to get the build-out completed. And then we are looking at future development where we want to create a more resilient system by planting the network underground as much as we can.”
“We’re going to raise another 25 million for that so, right now, we are going to be funding them to the tune of 25 and 30 million,” Vanterpool told journalists.
The minister, in the meantime, added that costs will include insurance.
“There are some insurance funds to come into them and some other things they’re working on. I think the claim for the insurance funding is in the tune of $10 million and so on. So, there is funding coming to let the electricity get back up,” he stated.
Vanterpool said government has already given $5 million to the BVIEC to start reconstruction.
He made the statement last week following an appeal from the BVIEC asking residents to pay their bills to help fund reconstruction.
The territory’s electricity infrastructure is being rebuilt in light of hurricanes Irma and Maria which devastated the territory last month.
Copyright 2018 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.