UTS’ Board green lights investment in data center

POSTED: 09/18/11 11:18 PM

WILLEMSTAD – The Supervisory Board of UTS has given the green light for a partnership with Caribbean Technology Exchange (CTEX). The latter company wants to set up a data center in Curacao and had asked UTS to invest $5 million. The board has now granted that request based on a positive advice provided by Stratosys Partners.

UTS’ involvement in the project was unclear for several months because severe criticism from the Pueblo Soberano – the second largest party in the governing coalition – criticized the project as being too risky and said it lacked sufficient guarantees that investors would be able to recoup their money.

Based on its mandate to examine Ctex’s business plan, Stratosys Partners, has concluded that the data center project would be a good investment for UTS because it matches the company’s vision and will allow for UTS to diversify its activities. They also report that Anthony de Lima, who authored a report leading to UTS’ initial commitment, was too conservative when he calculated the potential profits.

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