(The Prime Minister's statement is online in full HERE)
PRIME Minister Perry Christie announced Monday night that the government and the Export Import (EXIM) Bank of China have entered into an agreement to have Baha Mar completed and sold to a “world-class hotel and casino operator”, with construction expected to resume in September.
Mr Christie made the announcement during a national address on ZNS, shortly after 7pm Monday. During his live address, Mr Christie did not announce who the new buyer is and he did not take questions from reporters.
He said under the terms of the agreement, the EXIM Bank has committed to funding the costs to finish the project and the resort’s general contractor, China Construction America (CCA) Bahamas, will complete outstanding work. He said CCA will also resolve outstanding claims with its suppliers and contractors.
“It gives me great pleasure to announce that earlier today, the government of the Bahamas and the Export Import Bank of China signed an agreement under which the Baha Mar resort will be completed and sold to a world-class hotel and casino operator,” Mr Christie said from the Cabinet room, flanked by members of his Cabinet and others.
“Just after five o’clock this afternoon, the Supreme Court of the Bahamas approved these arrangements.”
He added: “Under the heads of terms signed today by the government and the bank, the remobilisation of Baha Mar will commence immediately. Construction at the site is expected to resume in a few weeks during the month of September.”
For Bahamian contractors who are still owed money for their work at the resort, the prime minister said: “Under this agreement made today, funds will be made available to enable them to receive a significant part, and possibly all, of the value of their claims.”
He also said thousands of former Baha Mar employees will receive outstanding amounts due to them: unpaid salaries, severance pay, accrued vacation pay and notice of payment due to termination.
For more on this story, see Tuesday’s Tribune.
Comments
zephyr 8 years, 4 months ago
Here comes the con man - coming with his con plan...
birdiestrachan 8 years, 4 months ago
The doom and gloom people will not like this announcement at all. They will have to find something else to beat up their mouth over. What does the man who owns the wash houses and can not find a Bahamian qualified enough to manage them have to say.?
DillyTree 8 years, 4 months ago
birdie, doom and gloom is still here, no matter how PGC spins it. This announcement comes just as Moody's downgrades the Bahamas yet again. So, pull off your delusional PLP rose coloured classes and see what's really happening here instead of being just one more sheep being led to slaughter.
newcitizen 8 years, 4 months ago
You are a waste of the air we breathe. If you were to disappear today, I'm sure your own family would thank the lord. You are the reason that this country cannot have nice things, because you are too stupid to reason and to dumb to know the difference.
Well_mudda_take_sic 8 years, 4 months ago
And the announcement of a snap election by Christie is just around the corner. Anyone wanna buy my 3.4 acres of swamp land in Coral Harbour?
DillyTree 8 years, 4 months ago
I'll believe it when I see it.
I can only hope we haven't sold out yet again to the Chinese with their carpet bags. I am sensing yet another "nation for sale" deal coming up with ties to organized crime.
RobG 8 years, 4 months ago
So when will they address the travelers already promised airfare, stays and comps from the last opening delay?
screwedbahamian 8 years, 4 months ago
Now you can not longer blame me, blame all of us.
TigerB 8 years, 4 months ago
Well, if the truth be told Baha Mar was mess up under the PM dem its no more than fair that he bring it back up to speed and fix he own mess. It wasn't like this was something that just came into being and he is getting credit for it... but like Dilly Tree say. I'll believe it when i see it!
killemwitdakno 8 years, 4 months ago
Who's going to finish the construction? Same goons?
Sickened 8 years, 4 months ago
Correct! They know into which pipes they poured the cement and they know which water pipes they didn't glue together (all of them apparently) and they know all of the spots where they were breeding rats for food. Once these issues are resolved they will be more than 5% on their way to completion.
jusscool 8 years, 4 months ago
Like I said before .Any dealings with the Chinese is like playing Russian Roulette . Someone's gonna get hurt. And it sure isn't the Chinese!
newcitizen 8 years, 4 months ago
Where's Franklin. I want to make sure he gets paid because there will be no politician hiding behind it when he tells me that nothing has changed and that in a month's time he will still be getting the run around.
Also, are they really making a big announcement that the company who stopped working on the project a year and a half ago has finally decided to pay and finish the job they were paid for? What a dog and pony show! Who actually sits and listens to these thieves?
Franklyn 8 years, 4 months ago
Newcitizen: you are right see next story, CCA Bahamas is the "big bugger" in the room that no one is talking about they (CCA) held Bahamians hostage to the false belief that Baha Mar was the reason why their contractor from all over the world were not being paid.
What is needed and presented to Bahamian contractors is a CCA agreement that they will settle claims %100 (i am sure CEXIM Bank will pay them what is owed %100) ...I have no trust in this group until I see an agreement from CCA assuring settlement - %100.
Franklyn 8 years, 4 months ago
Zheng Xuexuan, Vice President of China State Construction Engineering Corporation Ltd (CSCEC) paid a short work visit to the Bahamas, Trinidad and Tobago and the US from July 19-30, 2016. During his stay in Bahamas, the Vice President, along with leading officials of the Export-Import Bank of China, met respectively with Perry Gladstone Christie, the Bahamian Prime Minister, and Huang Qinguo, the Chinese Ambassador in Bahamas, with whom, views and ideas were exchanged on the progress of relevant projects. Vice President Zheng also inspected CSCEC’s projects under construction.
http://tribune242.com/users/photos/2016…
islandlad 8 years, 4 months ago
I do like how under the "retro pay" portion of the the PM's statement, while trying to make it a positive point of Bahamian Contractors being brought back in (why would any of them, I'd never trust this situation again) but is quick to suggest a "Substancial amount of monies owes" would be offered back. Hm, wasn't this the same man who has on several occasions GTD that any deal that would be done, would have to include dollar for dollar and made whole?
Casino105 8 years, 4 months ago
Nothing has changed. Not one word stating the real truth. Will the contractors be paid 100 %? What else did he give the chineses, I don't know if the Bahamas has anything left for the people. The problem still exists that no one is going to buy this place, the ratio of debt is to high to make a,profit , if even pay the mortatage. Don't forget , he said they would pay some of the electric bill, not all of it. How nice is that , when I have to pay all of mine. Just more talk to cover things up.
ThomasLewis 8 years, 4 months ago
PGC has to prove himself because for the past year he have been giving hope and painting a lavish picture that things will be good soon. Until there is some movement and actions SEEN with the bare eyes there is nothing happening. As from my experience of Baha Mar and observation we will need more than a year for infrastructure to be put in place and also to re-ignite the enthusiasm that once was.
Speaking of the re-mobilization of the construction the next chapter is the buyer of which PGC said is done, then the next step is to get qualified persons to work in the huge entity, also to get training then of course occupancy to maintain those employed.
Another question arises will this great project continue to carry the name " Baha Mar " without Sarkis Izmirillian being involved? Wasn't it he responsible for that name through a business license? There are a lot of unanswered questions as this country is in great need of repair.....Only through faith can this mountain be removed.
alfalfa 8 years, 4 months ago
I sure hope that BPL gets those rental generators real soon. If this thing really opens with our existing electricity structure, what a fiasco that will be. If the Chinese know what is good for them they will ensure that this monstrosity has it's own power plant.
Sickened 8 years, 4 months ago
A little nuclear plant would suffice. I suggest putting it on that lot next to Christie's house. The radiation can't do him anymore harm than he's done to The Bahamas.
Sickened 8 years, 4 months ago
Is the supposed Chinese conglomerate that is going to purchase Baha Mar the same conglomerate that will soon be opening a Chinese bank? If so, I wonder if that was part of the negotiations?
Alex_Charles 8 years, 4 months ago
the CCP is very pleased. Xi Jingping shall commence the slow clap for the people's Hotel
gbgal 8 years, 4 months ago
So Sarkis loses 1B+Dollars??? He gets nothing for his money, his efforts and his vision that developed the whole project? This can't be right. What am I missing?
arussell 8 years, 4 months ago
One must wonder if Sarkis is the secret buyer
C2B 8 years, 4 months ago
Sarkis shamed the Chinese publicly. This is the worst thing you can do to a Chinese person or entity. There is no equivalent in our Occidental thinking so it's hard to explain. It is a near certainty, that they will never work with him.
SP 8 years, 4 months ago
Truer words have never been penned!..... Lol
SP 8 years, 4 months ago
.......Translation: Chinese & Christie New Agreement To Deep Shaft Bahamians Again......
PM Christie sold the country out to the Chinese in last ditch attempt save his own ass!
This too will fail.
ThisIsOurs 8 years, 4 months ago
These frantic announcements and ill thought out decisions have been characteristic of this Bahamar situation since the government got involved. There are likely many we were blindsided admissions, teachable moments and apologies to the Bahamian people in our future. We need a just leader, I don't see one yet, we have Sears and Island Luck on the left and Christie and the Chinese on the right, (FNM is a disaster and i don't know if Bran serious) I'll be praying, hopefully it's not too late to be rescued from the bondage
glasshalffull 8 years, 4 months ago
YOU PEOPLE NEED TO GET UP OFF YOUR COLLECTIVE BUTTS AND DO SOMETHING TO HELP YOUR SELF, WHILE YOU ARE AT IT COUNT YOUR BLESSINGS, THIS IS NOT ABOUT PERRY CHRISTIE, THIS IS ABOUT YOU, YOUR CHILDREN AND YOUR FUTURE.... POLITICIANS CANNOT DO EVERYTHING FOR YOU... YO MUST HELP YOUR SELF..... YOU ALL HATE THE CHINESE ... WHY.. THEY ARE NOT YOUR PROBLEM... YOU NEED TO STOP FINDING FAULTS AND MOVE..YOU ALL ARE MUCH TOO DEPENDENT ON THE GOVERNMENT..
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