The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A senior government official yesterday said “the ball is in the court” of Bimini’s largest investor to submit a completed $40m offer to transform and take over management of that island’s airport.

Algernon Cargill, director of aviation, told Tribune Business that the government was still waiting to receive a final proposal from Genting Group and Gerardo Capo’s RAV Bahamas, joint owners of Resorts World Bimini, over a public-private partnership (PPP) that will see the duo “redevelop, manage and operate” the island’s primary aviation gateway.

“We’re still waiting to hear from them. The ball is in their court,” he said. “I understand they’re working on it, so we need to hear from them.” This newspaper reported in early May 2021 that the Minnis Cabinet had given “approval in principle” to enter into negotiations with the duo over Bimini’s airport.

The Resorts World Bimini owners are aiming to extend the runway from its present 6,000 feet to 8,000 feet, so that it can easily accommodate commercial passenger aircraft as well as private jets. The proposal’s principal attraction for the government is that it will have to provide no financing itself from the cash-strapped Public Treasury.

Genting/RAV Bahamas were seeking to source financing for their plans from a US-based company called Phoenix Infrastructure Group, although the Government has not yet had contact with the latter.

Mr Cargill said back in May: “We’re very excited about it. This will be a PPP with that group that is similar to other PPPs. The plans are already in the preliminary stage. They’re looking at lengthening the runway and building a brand new terminal.

“We’re being very deliberate in our discussions to ensure we have take a well-developed proposal before we submit it to Cabinet for approval. They’ll be the managing partner for the airport, Genting and RAV Bahamas. It’s something we’ve been planning for a couple of months. We’ve had several meetings, but contracts have not been executed.”

The Bimini airport talks are separate from the proposed $150m-$200m package of Family Island airport upgrades that the Government has hired RF Holdings to seek the financing balance for. The project also has no links to plans to transform Grand Bahama International Airport following its acquisition by the Government.

The first “market briefing” for bidders interested in developing and operating Grand Bahama International Airport, plus the airports in Exuma, North Eleuthera, Great Harbour Cay, San Salvador, Abaco and Long Island, is due to be held before the end of June.

“We have created two SPVs (special purpose vehicles), Freeport Airport Development Company or FAD, and the Bahamas Airport Development Company or BAD, that will operate both the Freeport and other already identified Family Island airports independent of the Airport Authority in much the same way as NAD manages LPIA,” Dionisio D’Aguilar, minister of tourism and aviation, said earlier this week.

Asked whether the Government is seeking separate bids for Freeport and the Family Island airports, or just one offer for all, Mr Cargill said yesterday: “Right now it’s split out, but a bidder may want to bid on Freeport and the other airports. It’s up to the bidder.

“We definitely want to deliver on what we promised we’d set out to do. Those PPPs we’re working on, the Request for Proposals, have our immediate attention.”