The Minister of Sustainability and Climate Resiliency, Hon. Katherine Ebanks-Wilks, stated in Parliament on Thursday, July 25th that following a meeting of the Cabinet, it was decided that the Government and the Dart-led consortium had begun discussions to exit the project agreement in respect of the Integrated Solid Waste Management System referred to as (the “ReGen Project”).

Minister Ebanks-Wilks advised that before extending the longstop date or the date of financial close, it was decided that the Government would take a holistic review of the ReGen Project. The review included, but was not limited to, considering the value for money of the project, fiscal sustainability, insurance thresholds, the risk share profile and landfilling options going forward. Subsequently, the Government determined that there were a number of reasons, based on facts and figures, why exercising the right to exit the agreement was deemed the most responsible decision at this time.

The way forward will include a review and update to the National Solid Waste Management Policy and the Strategic Outline Case for the ISWMS Project. Subsequently, the Government will then tender for a new waste management solution in the most cost-effective and efficient manner. During this period of procurement, the existing space at the George Town Landfill will be utilized.

Minister Ebanks-Wilks affirmed commitment and she stated, “the Government remains committed to achieving a modern, sustainable and affordable solid waste management solution for the Cayman Islands. Sustainability is about focusing on the wellbeing of our people, by promoting practices that meet the needs of the present without compromising the ability to meet the needs of future generations. The decision made by Cabinet to end the ReGen Project was taken based on facts and in the firm conviction that a more affordable solution is needed for our country, one that would save the country from generational debt”.