18 February 2011

GCN Canada signs US$200 Million Infrastructure Development Agreement with SIKON INC. for Cameroon Project

GCN Canada Inc., headed by its President & CEO, His Excellency Robert M. Sabga (former High Commissioner for the Republic of Trinidad and Tobago) and his global team of professionals, in conjunction with their Cameroon joint-venture partner Bonanza Estates S.A., have been granted by the Republic of Cameroon a license to develop and operate a Tourist and Financial Tax Haven and Free Zone for a 311-hectare estate with 1.7 km of pristine beachfront in Batok√©, north-west of the coastal town of Limbe, in Cameroon’s Strategic  Economic Development ZoneH.E. Robert Sabga enjoys excellent relationships at the highest levels of the Government of Cameroon, and through him GCN Canada, Inc. (GCN-C) has committed to help develop and support the country’s economic growth based on a proven tax haven and free zone development platform.   
GCN-C has designed a most remarkable and unique development concept, combining the benefits of a financial tax haven with the attraction of an ultra-exclusive resort-style duty free zone, the only such destination of its kind in the world. Unlike existing free zones in places such as Dubai, South Korea, India, some Caribbean countries, and other places in the globe, the design of GCN-C’s Emerald Coast Financial and Tourist Free Zone for the Republic of Cameroon is truly in a class of its own.

Ottawa, Canada, February 16, 2011 –
Ottawa-based GCN Canada, Inc. has announced that it has signed a US $200 Million agreement with the Aboriginal owned and operated SIKON Infrastructure Inc. to provide planning and infrastructure works for the Emerald Coast Financial & Tourism Free Zone Project in Cameroon. SIKON will also collaborate with GCN Canada to fund the initial infrastructural works through its financing network. The first phase is estimated to cost some US$200 Million, and will provide road works, drainage, sewage and wastewater management, and electrical and general site infrastructure. Future collaborative phases will include environmentally friendly energy production (wind turbine and solar), and on and off-site development programs.
SIKON Infrastructure Inc. is an Aboriginal owned and operated consulting company dedicated to delivering beneficial infrastructure and environmental solutions in particular for Canada’s Aboriginal Peoples, but also internationally. Their areas of expertise include environmental assessment and management, water and wastewater treatment, buildings and facilities, and green energy solutions. (http://www.sikonmh.com)
Mr. Antonio Dalpra, Vice-President of SIKON, says, “This agreement with GCN Canada marks a new and exciting development for us, and is the first project we have taken on in Cameroon. Most of our international projects to date have been in Central and South America, and we welcome the opportunity to collaborate with GCN Canada in its Emerald Coast Project, which will be the first development of its kind in Africa. We are very proud and excited to be part of this historic venture.”
President and CEO of GCN Canada, His Excellency Robert M. Sabga, has a long history of association with Aboriginal groups and organizations dating back to his years in the diplomatic corps, and has expressed his pleasure with this new agreement: “We are very happy to have SIKON as a development and financing partner with us for the Emerald Coast Project – their expertise and resource network are a welcome addition to what everyone agrees will be a truly world-class enterprise. This agreement now adds a new and truly historical dimension to what we are building in Cameroon, since it will be the bringing together of the First Peoples of North America with those of Africa for the first time that we are aware of, to mutual benefit and for the creation of mutual opportunity. We are witnessing history in the making with this agreement!”
GCN Canada recently announced it has signed a US$850 Million funding agreement with Hiram Estates Investments of Cairo to finance and build the Emerald Coast Plaza Resort Hotel. This latest agreement with SIKON will provide the necessary infrastructure for the hotel and for other key aspects of the free zone development.
For more information of the Emerald Coast Project, contact Monty Elsabbagh at pr@gcncanada.com and/or visit the project website at http://www.gcncanada.com.
 

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