More than $2 million out of $65 million authorised for the redevelopment of the Causeway has been spent, according to the Minister of Works and Engineering.

During a five-hour debate in the House of Assembly yesterday, Minister Derrick Burgess gave an update on the Causeway refurbishment, or the New Crossing Project.

He announced that the Government was awaiting the final feasibility report but that $2,373,000 out of a total authorised fund (TAF) of $65,300,000 has been spent.

And he reiterated the Government's desire to consider a public-private partnership, to develop the new bridge.

He said: "The final feasibility report on the Causeway refurbishment or New Crossing project will be submitted to the Ministry of Works and Engineering shortly.

"The Environmental Impact Assessment is complete and currently under review and the detailed geotechnical investigation work is scheduled for completion in 2010.

"The Ministry of Works and Engineering, in association with KPMG, is currently considering the suitability of Public Private Partnering (PPP) as compared to traditional methods of procuring the New Crossing, Castle Harbour project.

"The PPP mode of funding is deemed suitable for major Government projects because of the magnitude of funding required and the relatively large number of significant projects that are planned."

A public-private partnership generally merges developers and investors, contractors and other service providers to finance, create and operate assets such as highways, hospitals, schools and power plants — through long-term contracts.

Shadow Minister of Works and Engineering, Pat Gordon-Pamplin voiced her concern about the use of PPP's stating that they generally cost more to complete the project.

She said: "We do both know those projects (Causeway and Morgans' Point) are expensive projects. And I know the Minister gets upset when I say we have no money in the kitty.

"But we do not have any money in the kitty. As a result we have one of two options: we get further into debt. Or we do what the Government is recommending and go with this PPP.

"I think it's incumbent on me to say the investors are in the investment game not for benefits for the public. That's called Wall Street reality, Front Street reality, Court Street reality.

"As a Government when you start looking at a PPP the Government has a better ability to leverage effective fund on a Government to Government basis and get an even better deal than through the PPP.

"We do not want to pay for two (projects) and get one product."