STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
13
SUSTAINING GROWTH, SECURING PROSPERITY
revised estimated cost of $180.0 million of
which $120.0 million is estimated to be spent
in 2014. NEC proposes to finance this capital
expenditure by using a combination of equity
funding in the amount of $25.0 million from
insurance settlements and loan financing.
• Berth II – 30 metres Dock
– This project
entails the design and reconstruction of 30
metres of quay which is estimated to cost
$5.0 million. This project was completed at a
revised cost of $31.7 million.
• Wellness Centre
– NEC completed the
construction of a wellness centre for its staff
at a cost of $1.6 million.
• Savonetta Pier
– In fiscal 2010, NEC
estimated $5.8 million for improvement
works on the Savonetta Pier facilities to
accommodatevesselsandhandlecargosafely.
The estimated total cost of this programme
was revised to $31.0 million. An estimate of
$13.0 and $18.0 million is projected for the
last quarter of fiscal 2013 and fiscal 2014
respectively. This upgrade includes major
safety equipment/operating systems which
are in progress. It also includes but is not
limited to the installationof terminal firewater/
foam systems, conveyor systems, mooring
equipment and platforms, general inspection
and maintenance of steel superstructures,
gas and fire detection systems, replacement
of marine berthing fenders and replacement
of standby generators.
The scope of this project included marine
infrastructure works at four (4) piers as follows:
•
Savonetta Pier 1 & 2 North & South
projects were estimated to cost $5.7
million.
•
Savonetta Pier 3
project is estimated to
cost $1.0 million for emergency backup
generator, anchor shackles and bolts, and
dock fender chains.
•
Savonetta Pier 4
project is estimated
at $2.0 million to meet expenditure for
primary shuttle and main drive gear
boxes, NOVEC 1230 Fire Suppression
System and the construction of Canopy
over Firewater Systems.
•
Tug Mooring Facilities
– NEC initiated a
measure to reinstate its tug mooring facility
whichwas damaged throughnormal wear and
tear. The estimated cost of this reinstatement
is $5.0 million. This project was completed in
January 2013 at a revised cost of $2.5 million.
• Other Projects
– NEC allocated $9.8 million
towards the acquisition of furniture, office
equipment,
motor
vehicles,
computer
hardware and software and replacement and
acquisition of equipment for the operations
of the company. Expenditure for the period
October 2012 to March 2013 was $1.4 million.
• Navigational Aids – Channel Marker
– $0.4
million was allocated for the purchase of two
(2) channel markers. The channel markers
were scheduled to be purchased in the fourth
quarter of 2012 at an estimated cost of $0.1
million each. However, only one (1) was
replaced in December 2012 at a cost of $0.1
million.
• Tugs and Launch –
Acquisition of two 55-
ton Bollard Pull Stan Tug – NEC embarked on
an initiative to acquire two (2) tugboats for
additional towage services as well as a launch
at an estimated cost of $93.0 million. The
project was revised to acquire one (1) new
ECONOMIC INFRASTRUCTURE
