By KHRISNA VIRGIL
Tribune Staff Reporter
kvirgil@tribunemedia.net
WHILE a significant number of investors continue to show interest in the unopened Baha Mar resort, Prime Minister Perry Christie said the Export Import Bank of China has made significant movement in resolving the $3.5bn hotel’s issues which have caused the ongoing deadlock.
Mr Christie said he was not only optimistic that in the not too distant future Bahamians would receive a significant statement giving an indication of new developments, but that an upcoming Inter-American Development Bank (IDB) conference would be held in Baha Mar’s convention centre. This gathering he said is expected to take place in March 2016.
Mr Christie added that he and China Construction America (CCA) – the resort’s general contractor - are “on the same page” when it comes to fully paying Bahamian contractors money owed to them.
He explained to reporters yesterday following the morning session of the House of Assembly that he had been guarded with statements concerning Baha Mar because any major developments are up to the EXIM Bank and the receivers, Deloitte and Touche, to reveal.
However, he said, he could confirm that Bahamian investors, Americans and businessmen out of China, among others, have expressed interest in the West Bay Street mega resort.
“I have had, on my trip from London, a very long and involved telephone conference with the president of the bank in China,” Mr Christie said. “We discussed the significant number of investors who had come forward from China. They include major construction companies, engineering companies, communication subsidiaries, equity funds (and) some very significant lawyers who have made visitations to The Bahamas to look at the property.”
He said the bank continues to meet with major potential investors who then would request a meeting with the government.
“There is significant movement. I continue to strongly advocate the resumption of construction in the shortest possible time. I continue to believe that that will happen. I continue to advocate that all Bahamian contractors should be paid in whole. I, notwithstanding commentary in the newspaper from former directors of Baha Mar, continue to believe at this stage that that has to happen and that it will.
“I have argued strongly for those young workers in particular who were categorised at 2,000 in number who were made redundant that we must move quickly.
“There is one additional bit of information that I must tell you is that the Inter-American Development Bank conference is being held in March in the Bahamas with a large number of people coming. I expect and fervently hope that the convention facilities at Baha Mar will be used to facilitate that convention because you need more than the Melià (Nassau Beach Hotel) ballroom. You need any number of facilities for such a conference.
“In short, I am anticipating that in the not too distant future you will have a significant statement giving an indication of what I am talking about.”
He added: “I have spoken with the construction company as well with a view to just confirming that we are on the same page and happily for me the construction company has taken the view that they must pay their contractors.”
Last month, new developments concerning the resort prompted stakeholders to ask a Supreme Court judge for an adjournment of a winding-up petition until February 2016.
Baha Mar filed for bankruptcy in a US court in June, however, the cases relating to the resort’s Bahamian companies were eventually thrown out of the American court. In response to the bankruptcy filing, the government filed a winding up petition against the resort in the Supreme Court.
In September, the Supreme Court approved the appointment of joint provisional liquidators to oversee the resort. Then, in October, the Supreme Court granted the Exim Bank’s request to appoint Deloitte and Touche as receivers.
Baha Mar was first expected to open in December 2014 and then missed a subsequent opening date in March 2015. An opening for early May was then planned; however that target was also missed.
Comments
Honestman 9 years ago
“In short, I am anticipating that in the not too distant future you will have a significant statement giving an indication of what I am talking about.”
This will be Perry Christie's epitaph!
Bullshitfedup 9 years ago
What am trying to gather is why The Prime Minister is always putting his foot in his mouth them having a convention in the Grand Hyatt Convention Center has nothing to do with Baha Mar nor its workers ok I assume that's where they are also gonna host the PLP Convention from The Minister Of Tourism response today am sure Baha Mar is opening no time soon pleasestop from lying and shut up tell the truth for once in your lives they said Sarkis had the situation deadlocked now look still ent get a dam step its now been 6 months please come out tell the truth cause the buildings are daily being useless looking at them sitting there is sickening
Bullshitfedup 9 years ago
Where is my comment lol
Bullshitfedup 9 years ago
Lies lies more lies
EnoughIsEnough 9 years ago
come on tribune - stop reporting every time this man burps useless rhetoric. surely there are more important stories out there to cover. does everything have to be every useless comment by every useless politician?? report things that inform, educate, instruct, that have substance, do some more investigative journalism - uncover truths.
Well_mudda_take_sic 9 years ago
One can't begin to imagine how much longer our Jokey Pinocchio Leader's nose grows each time he utters anything about Baha Mar!
Franklyn 9 years ago
...there is a special place in hell for liars ...Liu Liange Vice Chairman, President The Export-Import Bank of China don't know a word of English ...guess he conveniently had a Chinese interceptor along with him on his London trip.
I am so sick of these guys, one bunch of @!(&$
bahamalove 9 years ago
Lol! Mobilisation to completion (or even substantial completion) in three months for a project needing $600 million dollars worth of work to finish? Hmmmm..............
MonkeeDoo 9 years ago
I hear that the Bahamian interests are the Web Shop owners. Imagine if we had a Proceeds of Crime Act ? The Government would be the investor, after the courts had confiscated all of this money. Might not have even needed VAT !
Gladiator 9 years ago
Don't listen to a word PC says. It's all lies. He doesn't have a clue what's going on and believe me because I work at BM.
sheeprunner12 9 years ago
Who will Perry giveaway Bahamar to in 2016???????? Like Hubert Ingraham gave away Four Seasons/Emerald Bay to Sandals in Exuma???????? That Four Seasons giveaway cemented the idea that longshot all-inclusive mega-resorts are unsustainable in our country. But we continue down the same road of economic futility.
JohnBuchanan 9 years ago
If the Prime Ministers is again declaring that good news is on the way, we can be pretty sure it will in fact be another setback, if not outright disaster, based on history over the last 6 months. He is about as clueless and delusional as it gets.
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