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CCCS project now scheduled for completion by November 2020 |07 December 2019

The second AGM of the Central Common Cold Store (CCCS) took place on December 5, 2019 at the STC conference room in Victoria.

The chairman of the CCCS Board, Peter Sinon, opened the AGM by welcoming all and delivered his report on performance of the new Board since their appointment.

He reassured the shareholders of the Board’s commitment to meet set deadlines but nevertheless informed the shareholders that due to some teething constraints to physically mobilise and settle the main contractor on site for works to begin, has resulted in a delay of the scheduled completion date of the project. It is now extended by six months and now scheduled for completion in November 2020.

He further informed that the loan of Euro 20 million with MCB Mauritius (Euro 15 million) and MCB Seychelles (Euro 5 million) are at advanced stages and anticipates signing and closing soon.

Finally, he took the opportunity to thank all critical stakeholders, partners and collaborators in particular his Board of Directors and Management of CCCS, Ile du Port Handling Service (IPHS), the Ministry of Finance, Trade, Investment and Economic Planning, the Seychelles Fishing Authority, the Attorney General’s office, the Ministry of Housing, Infrastructure, Lands & Transport (MHILT) and all other entities at home and abroad who are involved one way or the other for the realisation of the novel project in the industrial fisheries sub-sector.

The CCCS general manager, Arthur de Bretagne, followed the chairman’s report with a more detailed and graphic PowerPoint presentation on the milestones achieved in the first 6 months of project construction activities.

He informed that UCPS, the main contractor assumed site on June 3, 2019 instead of January 2019 as originally planned. A detailed chronological overview of the milestones clocked thus far was given that dated back to events since the last AGM.

The presentation included the tendering, evaluation processes and contract awards that have taken place for the main contractor and various specialist works. To avoid costly errors, different specialist consultants have also been brought on board.

 

He finally presented the financial situation of the company that was validated by the auditor who was presented. Votes from the shareholders for the 2017 and 2018 audit reports were solicited and resolutions were approved and signed on their behalf by members of the Board of Directors.

The floor was then opened for a questions and answers session.

 

Contributed by Peter Sinon of CCCS

 

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