Stabroek News
April 23, 2001

The government has been fully compensated for its expenditure related to the Beal Aerospace Technologies deal which fell through last year.

Prime Minister Sam Hinds on Friday confirmed that the government in reimbursing the company its US$75,000 purchase price for 25, 000 acres of land in the Waini area, discounted its expenses which amounted to US$31,366.

Beal received US$24, 634 of the US$75,000 as the other US$19 000 had to go towards the final payment for the cadastral survey which the government had to be reimbursed for as well.

Beal had proposed to build a spaceport in Guyana's interior but the project had to be aborted after the US government announced it would continue to subsidise the operations of NASA.