The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

THREE “credible” investors have expressed interest in the redevelopment of the Grand Bahama International Airport, Deputy Prime Minister Chester Cooper revealed yesterday.

Mr Cooper, while speaking in the House of Assembly, said each investor had credibility and a good track record.

The Tourism, Investments and Aviation minister did not reveal the investors.

“We promised the people of Grand Bahama that we would revitalise and rebuild their island,” Mr Cooper said.

“Big things are happening. Real things for real people. The Grand Lucayan Resort and the Carnival Cruise Port are only the beginning.

 “The Minister for Grand Bahama and the work of the Ministry of Tourism will revitalise Port Lucaya Marketplace and Marina. The new airport will return pre-clearance.

 “I am pleased to advise that as a result of the RFP process, we have three credible suitors for the redevelopment of a world class Grand Bahama International Airport. They’re credible with a track record and their own money so we expect construction to be completed by January 2025.”

 He said the “world class” facility, once completed, will increase airlift to the island.

 “(There will be) a significant airlift boost from Bahamasair, Western Air and other airline partners that have come and (the) sale and revitalisation of many of the abandoned projects throughout Grand Bahama are on our sight,” he said.

 The airport in Grand Bahama was destroyed by Hurricane Dorian in September 2019.

 During that time, it was privately owned and operated by the Freeport Harbour Company, which is part of Hutchison Port Holdings of the Hutchison Whampoa Group.

 Under the Minnis administration, the government purchased it in April 2021 for $1, with plans to redevelop the airport under a PPP.

 However, the government also paid-out around $1m as its 50 percent share of the redundancy pay and associated benefits received by GBIA staff.

 The current state of the island’s airport - along with the lack of other economic activity -  has been key issues of concern for Grand Bahama residents for many years.

 Yesterday, Mr Cooper said many projects are in the pipeline for Grand Bahama.

 He outlined several initiatives his ministry was working on to increase local tourism and restore investor confidence on the island.

“We are launching a shovel-ready initiative and this will include the International Bazaar and Xanadu,” he told MPs.

 “These initiatives will mean a significant number of tourist arrivals there and it will change the economic prospects for Grand Bahama for many years. The jobs and tourist receipts will have knock-on effects in countless ways in the coming years.

 “We really are just getting started for Grand Bahama.

 “We will attract big investments to Grand Bahama and there are some in the pipeline. The minister for Grand Bahama talks about the $500m investment in the GB Shipyard and the sale of Equinor will bring a significant boost to the industrial sector.”

 He added: “All of these will be buttressed by the new hospital already announced by the Ministry of Health and East Grand Bahama, I will tell you that at no time in history as an independent nation have I been more optimistic about the future of Grand Bahama than I am right now. I tell you your government is working for you and this is what a new day governance looks like.”

 Pertaining to other investments, Mr Cooper said that since assuming office, the Davis administration has approved over $2.5bn investments to date.

 “Seven-hundred million dollars in Exuma, $135m in Abaco and $137m in Eleuthera and $400m in Mayaguana and we have in the pipeline, ready for presentation to the national economic council, a $250m project for South Long Island comprised of a boutique resort, an entertainment centre and water park,” Minister Cooper said.

 “Overall, we anticipate at least $5bn investments in this year of this administration. We are establishing a social responsibility fund, in time which we will look to ensure that we benefit tangibly from these investments to social causes, entrepreneurship and the tourism development corporation.”