The Tribune

By NICO SCAVELLA

Tribune Staff Reporter

nscavella@tribunemedia.net

PRIME Minister Perry Christie yesterday said he is “greatly encouraged” by the nature of meetings held with international shipping experts last week, the possible outcome of which he said will have a “profound” economic impact on “the future of this country.”

Mr Christie, speaking in the House of Assembly, said government officials held “successful meetings” with representatives from the Mediterranean Shipping Company (MSC) in Geneva, Switzerland last week, which he said will likely result in officials “being able to find the formula to stimulate employment in Grand Bahama and in fact the Bahamas.”

Mr Christie also said officials held “positive talks” with MSC representatives regarding the expansion of Freeport’s Container Port, as well as the establishment of one of MSC’s training academies in Grand Bahama to expand opportunities for Bahamian crews aboard any of MSC’s vast fleet of ships. The latter, Mr Christie said, will provide “hundreds” of new jobs in the short term and many more as MSC expands its fleet, which, he said, will require “an additional 20,000 crew.”

Mr Christie said officials also discussed “other major investments” in Grand Bahama which are expected to be finalised in the near future.

“Mr Speaker, by the meetings that we had, by the discussions that we had, by the agreements in principle that we arrived at, all of which Mr Speaker must lead to the actual implementation and execution which is a matter that I do not propose to interfere with at this time in Parliament because it has to do with business, but, Mr Speaker, the possible outcome will have a profound impact on the future of this country,” Mr Christie said yesterday.

“…These meetings are of I think great significance to Grand Bahama and the country and it is the kind of consequence that I am not able to speak of at this moment in any way other than to say that we are greatly encouraged.”

Mr Christie also said the visit to MSC’s headquarters allowed a government delegation to “obtain a great appreciation of the magnitude, financial standing and stature of the company” and to become “better acquainted with its principals.”

He added: “My government particularly recognises the long-term commitment of both (Hutchinson Group of Companies) and MSC to the economy of Grand Bahama and is seeking to encourage and provide for them strong partnership in the further investment in Grand Bahama.”

MSC is considered the world’s second largest global shipping company. In addition to its shipping properties around the world, MSC had also generated one of the largest and fastest growing cruise lines.

In December, MSC committed to the construction of a $100m private island cruise port on Sandy Cay, set to get underway early this year.

The proposed Sandy Cay cruise port is expected to bring an extra 465,000 cruise passengers to the Bahamas annually, Mr Christie said at the time, with MSC having committed up to $100m to construct and sustain the project and associated marine park.

The development is expected to create 600 construction jobs and employ more than 300 permanent employers. Mr Christie has said that the economic activity from the development is expected to generate $20m in salaries for construction services and create over 600 new construction jobs, with 250 as full-time construction employees over a two-year period.

The Sandy Cay project, once completed in early 2018, is expected to staff 361 employees on a permanent basis, generating roughly $13m in recurrent salaries and taxes in the Bahamas.

MSC is also a partner of another conglomerate and major Freeport investor, the Hutchinson Group of Companies. Hutchinson Port Holdings, in association with the Port Group, owns and operates the Freeport Harbour and Container Terminal.

MSC recently committed itself to the $250m, phase five development at the port.