Prime Minister Dr. Ralph Gonsalves said arrangements are already in place for the financing of a geothermal project in St. Vincent and the Grenadines.

He was responding to a question in Parliament this morning in relation to the status of the project being undertaken by the SVG Geothermal Company.

Dr. Gonsalves said the project is expected to cost some 91 million US dollars with an additional 14 to 16 million US dollars for the installation and operation of the transmission lines.

Dr. Gonsalves said the drilling phase is expected to cost some 28 million US dollars of which approximately 12 million will be the government’s equity contribution.