Prime Minister Gaston Browne addressed queries about the financial handling and future of the ALFA Nero superyacht, a significant asset that has attracted government attention due to its considerable market value and ongoing legal proceedings.CLICK HERE TO JOIN OUR WHATS APP GROUP
Responding to concerns about escalating costs and decreasing valuation, Prime Minister Browne clarified the government’s stance on the superyacht, which is estimated to be worth between US$45 million and US$50 million.
“Every cent that the government spends on that yacht, we will recover,” Browne confidently stated, suggesting a possible financial “windfall” from the eventual sale of the vessel.
The discussion in Parliament arose amid questions regarding how much the government was willing to invest in the yacht, with some members worried about the balance between expenditures and the yacht’s depreciating value.
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Browne dismissed these concerns, indicating that the financial outlay was a calculated risk with the potential for substantial returns. He assured that the government was not looking at a long-term financial drain.
“Clearly, this thing is not going to drag on for 10, 20, or 30 years,” he remarked, emphasizing the yacht’s “commercial value” significantly exceeds the earlier quoted figures.
The Prime Minister also updated the legislative body on the legal status concerning the ALFA Nero.
He mentioned that a crucial injunction had been lifted, paving the way for the government to proceed with its plans. The case regarding the yacht’s sale and the application of its proceeds is set to be heard in the coming months.
“We are making significant progress,” Browne concluded, reaffirming his administration’s commitment to managing this asset efficiently.
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