At LOE group we have a number of team members and local people that keep us updated on the activities in the area. What is being developed and promoted as well as infrastructure upgrades. The following are in various stages of exploration to actual completion, all of which are of great interest to us and hopefully to you. These represent good positive change and growth that will ultimately help our development and the expansion and awareness of the North Coast for tourism and trade beyond today.
A. Just to the east of LOE there is a beautiful town called Cambiaso. At this time there is an eastern european developer that is going through due diligence on a 50+ acre parcel of land. This land is on the beach, where they are proposing to build on this flat land several hundred rentable rooms through condo buildings and resort amenities. This represents another potential resort in the general area of luperon, which will positively effect other infrastructure elements in our local district. They are much further behind us in the development cycle but we are certainly hoping they execute on this plan.
B. Carnival Cruise lines, has filed for a new permit for a second deep water cruise port to the east of Playa Dorado. This project will typically take several years to develop and execute. The good news is that the planned expansion of the north coast destination for Carnival will mean more tourism for the general Puerto Plata area and potentially more local infrastructure and overnight stays at area resorts.
C. Alternative Energy field. As confirmed with local news reports an Asian investment firm, just funded a 100 million dollar wind farm on the north coast. This will generate over 50 Mega watts of electricity that they will sell to the power grids through EdoNorte the service provider. This means lower costs for electrical power use on the north coast and hopefully encourages more alternative energy funding and resources for the near future. This also fits very well with our zero-energy use platform we have established. Supporting our internal energy production to sustain our resort with out traditional power resources. This gives our development a much lower foot print and maintains a low cost impact on our owners and guests.