Phased Development Program
The project requires long-term commitment, and a phased approach:
The Development Program: Phases 1 – 3
The Sherbro Island City Special Economic Zone (SEZ) Development Program will consist of three phases. This approach plans to enhance the project’s viability and capacity to attract large scale financing:
Phase I: Feasibility
Conduct core feasibility studies to establish industry development strategies and initial projects transportation access, including mainland marine & air linkages engineering opportunities and constraints, master plan framework.
Launch a series of feasibility studies that:
1. Test selected “Foundation Industries” as economic catalysts
2. Review key engineering and technical issues
3. Develop a Master Vision and Concept
4. Assess environmental and social impact
Selected tourism sectors, aquaculture/fishery, and specialty agriculture will be evaluated as Foundation Industries – sectors which can be launched quickly with affordable levels of infrastructure investment and which can rapidly demonstrate economic viability and positive impact for island residents.
Phase II: Catalyst
Development and operation of a limited number of catalyst projects and related infrastructure to generate initial commercial activity to expand economic opportunity for island residents.
To refine industry development strategies and create a full master plan.
This phase will focus on the implementation of a small number of “proof of concept projects” in the Foundation Industries and on detailed evaluation and scoping of the development of “Strategic Industries”, expected to include larger scale tourism, education/training, media and entertainment, health, and selected technology services sectors – industries that can drive longer economic growth across the island and country.
The Catalyst Phase will include the creation of initial transportation and utility infrastructure, and of social impact projects benefiting island residents, as well as the creation of a full Master Plan.
Phase III: Expansion
This phase will consist of a series of sub-phases in which large-scale development will be carried out across the island in a range of commercial, residential, and infrastructure sectors.
Extensive commercial linkages with new and existing businesses on the mainland will be created. During the Catalyst Phase, these sub- phases will be carefully planned and sequenced to build upon one another.
These will be followed with multiple larger scale projects to build out the catalyst industries and to establish new industries; public services are expanded, and city scale infrastructure is rolled-out.