Having cleared its long term $50 million debt the Cayman Turtle Centre said there’s still some way to go before they can be completely debt-free. Cayman Turtle Centre managing director Tim Adam said with its $50 million debt now in the rearview, it’s time to look ahead.
“As with any operating company there are various things, there’s trade debt, you have payables, you have receivables just like any other company but long-term debt is what we were able to fully extinguish,” said Mr. Adam.
The Centre currently benefits from Government allocations rounding off at just over $12 million in this budget cycle. Mr. Adam said with the long-term debt cleared they can now plan for improvements.
“The Cayman Turtle Centre is dedicated to expanding our turtle release program along with adding a butterfly house. The butterfly house will be enclosed, it will be covered and bonded by stainless steel mesh so when you go in there you will for sure see butterflies,” said Mr. Adam.
Mr. Adam said some of the Centre’s enhancements will be coming in the next few months.