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As poor country, Belize relies on foreign investment to build public projects, but Godfrey Smith fears money would evaporate if Privy Council orders dam to undergo second environmental assessment, possibly postponing its construction years even causing to be abandoned.

"Belize simply cannot afford world financial community know kind of indecisiveness," he told five-man judicial committee hearing an appeal case brought coalition of environmental groups.

The Chalillo Dam on Macal River has been approved by local environmental protection agencies, but Belize Association Non-Governmental Organizations (BACONGO) believes plans hydroelectric project are flawed.

BACONGO says dam's approval granted on plans that showed would built on granite, but geological surveys indicate site chosen dam consists sandstone and shale, raising questions about its safety.

The group wants Privy Council order new environmental assessment. Construction on project, which upstream town San Ignacio, began earlier year.

The Belize Electric Co. Ltd., BECOL, subsidiary of Newfoundland-based Fortis Inc., concedes bedrock was originally misidentified granite, but says the sandstone site can safely support dam.

The environmental groups argue $30-million US project will damage surrounding rainforest has been left untouched human beings 500 years destroy the habitat threatened species, including jaguars, tapirs and scarlet macaws.

The Privy Council – which serves final court of appeal Belize – reserved judgment on case Wednesday. It could weeks before judgment issued.

Smith said dam has public support Belize, arguing that project part governing party's manifesto on economic development elections held last March, which resulted majority government.

Because Belize doesn't have financial resources build the dam, Smith said had look outside help.

Fortis holding company operates seven electric companies Newfoundland, Prince Edward Island, Ontario, the Cayman Islands New York. Its wholly owned subsidiary, Fortis Properties, owns hotels, office buildings and malls throughout Atlantic Canada.

Under terms deal negotiated build dam, Belize Electricity Ltd. (BEL) – company partly owned by Fortis distributes electricity – required to purchase power generated dam, even if can buy cheaper elsewhere.

BECOL BEL have been granted generous indemnities on the project.

Smith defended deal, saying foreign companies had be assured return on their investment order attract them Belize.

"If government Belize had financial wherewithal to build dam ourselves, would have done so," he said.

Belize currently gets about half its electricity from neighbouring Mexico.

Smith said dam will not necessarily provide cheaper power people Belize, will stabilize prices long term making country less reliant on imported power.

"It not national security interests rely on a foreign country half electricity needs," he said.