On Friday, September 30, 2016, the Corozal Free Zone signed a contract to invest $2.5 million in infrastructure works. The project was designed by Young’s Engineering Consultancy Ltd. It includes the installation of storm water drain, sidewalks, parking areas, roundabout, pedestrian ramps; complete resurfacing with hotmix of the main thoroughfare known as “Freedom Avenue”, traffic signs and traffic markings. It also includes drains to alleviate the water that settles in front of the Las Vegas Hotel and Casino.
The project was awarded to Belize Roadway Construction Limited of Belmopan City after successful bidding. Young’s Engineering Consultancy Ltd. has also been contracted as the supervising company for quality assurance. Funding for the project was secured through a Bond raised by private and institutional investors, the administration of the Corozal Free Zone, and the Government of Belize. The works are estimated to be completed in six months.
This project has been necessary to attract and provide a better shopping experience to visitors of the zone. Also the investment will continue to make the Corozal Free Zone viable, maintaining the employment of thousands of Belizeans as well as contributing to government revenues.