DURING peak oil production, Navitas expect £181m in corporation tax to be generated per annum, with a further £99m p/a in royalties to be paid to Falkland Islands Government (FIG).
THE Falkland Islands Executive Council has approved in principle that Falkland Islands Government (FIG) will enter into contracts for the fabrication, delivery and installation of a new port facility in the islands, the decommissioning of the existing facility, and the delivery of a new access road and causeway.
THE Falklands Assembly is committed to a “highly regulated and environmentally robust hydrocarbons sector, this is unchanged,” MLA Teslyn Barkman assured Penguin News on Thursday.
IN a controversial move that has brought a resignation from a member of the Planning and Building Committee, Executive Council has approved the port development planning application on Tuesday despite a recommendation against by the Committee.
“BIG benefits” and enhanced health and safety aspects were key messages at a public meeting held on Wednesday night about the planned new port for Stanley Harbour.
THE new port is expected to be operational by early 2024 at the latest.
