The Tribune

VISIONARIES: US defence giant Raytheon fully backing local venture which will raise $300m for cash-strapped govt

A GROUP of Bahamian entrepreneurs have the “green light” for a $427m investment in what Raytheon Technologies (a merger of Raytheon, Pratt & Whitney and Collins Aerospace) has termed will be the “first-of-its-kind aviation, climate, meteorological, navigation, 3D terrain, street and chart mapping and severe weather sensing network exceeding that of any other industrialised nation” —thereby enhancing the safety of The Bahamas, boosting key industries vital to the Bahamian economy’s post-COVID rebound and providing Dr Minnis’ Administration with the vital prerequisite components that are necessary to legally and lawfully collect what is projected to be more than $300m in “overflight fees” from the 594,000 flights from each and every commercial, cargo and private carrier using Bahamas’ sovereign airspace (archipelagic baselines, territorial seas, contiguous and exclusive economic zone.

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• March 31, 2021