The government is moving through the final details of the deal with Global Ports Holding (GPH) that will eventually lead to the redevelopment of the Port of Nassau.
Minister of Tourism and Aviation Dionisio D’Aguilar told Guardian Business yesterday that the technocrats have dealt with their part of the agreement that will be signed with GPH, and now it will have to go to the Cabinet for more scrutiny.
“We are progressing, hashing through the final details of it all,” he said.
“So hopefully we’re close. It hasn’t been presented to Cabinet. I think the technocrats have dealt with the issues and now there are other policy issues that need to go to the politicians.”
GPH expects that the majority of work to be done on the port will be carried out by Bahamians.
The port is expected to cost $250 million. GPH said most of that money will be spent outside of expanding the cruise berths. The lion’s share will be spent on developing facilities that will create a destination with activities and restaurants for cruise guests, hotel guests and Bahamians to visit.
GPH executives recently met with the Bahamas Taxi Cab Union, the Prince George Dock Taxi Drivers Committee, the Festival Place Tenants Association, the Glass Bottom Ferry Boat Association, the Professional Downtown Hair Braiders Association, the Horse & Surrey Association and the Scooter Association. Meetings were also held with downtown merchants, as well as representatives of the Bahamas Hotel & Tourism Association, the Bahamas Federation of Retailers and the Downtown Nassau Partnership.
CFAL, the project’s lead investment management firm, will develop and create the Bahamas Investment Fund that will allow the average Bahamian to invest in the port. CFAL is working alongside GPH, which won the bid to redevelop and manage the Port of Nassau for 25 years.
Education: Florida International University, BS in Journalism
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