I came across this item on my research of St. Kitts & Nevis. Grenada is no longer an option for a second passport through an Economic Citizenship Program.
Grenada terminated its Economic Citizenship program as of October 24, 2001. This was probably one of the more lenient programs with respect to the relatively low investment involved and the relaxed residency requirements. In fact there were no residency requirements.
I know one immigration expert from Canada that was a consultant to the government of Grenada on the formation of this program, but was unaware of its demise. It was not widely reported in the media.
The speculation is the program was a casualty due to 9-11 under pressure from the US. Not much was found on a recent Internet search that I did, except this announcement on a non-government website, and this notice at the Escape Artist Notice.
It is very unlikely that the program will ever be resumed.
Living The Sovereign Life and Financial Freedom