Government said yesterday that construction of a new St Regis hotel and residences in the City of Hamilton will create some 600 jobs — but still no date has been given for groundbreaking on the proposed resort.Minister of Business Development and Tourism Minister Wayne Furbert spoke about the number of jobs to be created by the project in announcing the signing of an agreement between the St. Regis Hotel developers and “the international financial group responsible for advancing the monies needed for the construction of the new luxury property”.Mr Furbert said the signing should be hailed as a “giant leap forward”.However, when asked, the Minister would not name the financial group behind the project, saying the terms of the agreement “must remain confidential”.That drew concern from some members of the public in online forums, who questioned why a deal involving public land — the Par-La-Ville car park, and a municipal corporation — should be kept confidential.The Tourism Minister declined to comment. US developer Ted Adams III of Unified Resorts, who is behind the St Regis project, also declined to comment on the timeline or say who is financing the project.Gwyneth Rawlins, Acting Mayor of Hamilton, also declined to identity the financiers. “This is not a matter for the City of Hamilton Board to comment on in our capacity as the land owners,” she said.One source said they believed the US-based company Vecron and Canadian-based company Lordstock were at one point part of the financing group behind the St Regis. It’s not clear whether they still are — Government declined to comment.Vecron Lordstock Group is described online as “a global provider of innovative financing solutions”.A news release from Tourism said yesterday: “According to Minister Furbert, this agreement signalled the successful conclusion of thorough and comprehensive negotiations by the parties involved. It also brings closer the reality of the construction of the new property, and with it the creation of some 600 jobs.”Mr Furbert added: “This agreement is another indication of the continuing success of the Government and my Ministry’s efforts to drive new investment in the hospitality sector. As we continue to build our economic recovery, we are doubly pleased that the new hotel will open up the prospect of an estimated 600 new jobs in its construction and subsequent management.“We have long felt the new hotel, incorporating so many modern features that are vital to today’s business community, will usher in a new age of investment in Bermuda’s hospitality sector. It sends a strong message to the international investment community that Bermuda is serious about reaching out to create global partnerships and that we are, in all areas, absolutely open for business.“I congratulate all those involved in bringing the St Regis hotel to Bermuda and I am so very pleased to have been able to extend my support and encouragement throughout the long process of negotiations that have led to this agreement being signed.”The Minister concluded: “Let me be clear, our efforts as a Government are firmly linked in our understanding that all in our community must be the benefactors of the revitalisation of our economy. We will not mark full economic recovery until every Bermudian, from our ambitious and hopeful young people to our seasoned industry professionals have realised full employment opportunities.”Neither the Tourism Minister nor the Corporation of Hamilton have so far released any details of the timeline for the proposed St Regis hotel and residences.Former Mayor of Hamilton Charles Gosling did say a Belco transformer and lines that provide power to the city must be relocated before construction can begin, and he expected work on that to start only in about at least a year from now.Mr Furbert would only say: “All parties, COH, developers, financiers have some timeliness to meet. Within that time line, due diligence will be carried out.”