BAHAMAS Deputy Prime Minister Chester Cooper announced a US$200 million redevelopment plan for the Grand Bahama International Airport, which aims to transform the facility into an air cargo hub for the Caribbean and Latin America, reports the Grand Bahamas Tribune.
The Bahamian and UK joint venture consortium behind the project plans to create 1,200 construction jobs over the five-year build-out period.
The group intends to establish an air freight hub for the region, aiming to create an additional 500 jobs over a 10-year period.
The project includes a complete overhaul of the airport and will be led by a Bahamian investor group, which includes Bahamas Hot Mix chairman Anthony Myers, CFAL president Anthony Ferguson, and two other Bahamians, Anthony Farrington and Greg Stuart.
The UK Export Finance will provide financing for the project, and the Manchester Airport Group will serve as the operating partner.
The airport's redevelopment is a key factor in facilitating Grand Bahama's economic rebound and the sale of Grand Lucayan, which was left in disrepair following the destruction caused by Hurricane Dorian in 2019.
The government signed the agreement for the airport's redevelopment via a public-private partnership (PPP) with Aerodrome Ltd and its partners in February 2023.
'Subject to final design, this is expected to be an investment of $200 million and will begin its preliminary work this month. The airport will consist of two phases which are expected to generate 1,200 construction jobs consistently over the next five years,' said Mr Cooper.
'Ninety per cent of these jobs will be reserved for Bahamians, and work permits will only be granted where Bahamians cannot be found in accordance with our immigration laws and policies.
During the construction of phase one of the new Grand Bahama International Airport, which we expect to be completed no later than the first quarter of 2025, 300 construction jobs will be created along with 50 engineering, management, and accounting jobs,' he said.
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The Bahamian and UK joint venture consortium behind the project plans to create 1,200 construction jobs over the five-year build-out period.
The group intends to establish an air freight hub for the region, aiming to create an additional 500 jobs over a 10-year period.
The project includes a complete overhaul of the airport and will be led by a Bahamian investor group, which includes Bahamas Hot Mix chairman Anthony Myers, CFAL president Anthony Ferguson, and two other Bahamians, Anthony Farrington and Greg Stuart.
The UK Export Finance will provide financing for the project, and the Manchester Airport Group will serve as the operating partner.
The airport's redevelopment is a key factor in facilitating Grand Bahama's economic rebound and the sale of Grand Lucayan, which was left in disrepair following the destruction caused by Hurricane Dorian in 2019.
The government signed the agreement for the airport's redevelopment via a public-private partnership (PPP) with Aerodrome Ltd and its partners in February 2023.
'Subject to final design, this is expected to be an investment of $200 million and will begin its preliminary work this month. The airport will consist of two phases which are expected to generate 1,200 construction jobs consistently over the next five years,' said Mr Cooper.
'Ninety per cent of these jobs will be reserved for Bahamians, and work permits will only be granted where Bahamians cannot be found in accordance with our immigration laws and policies.
During the construction of phase one of the new Grand Bahama International Airport, which we expect to be completed no later than the first quarter of 2025, 300 construction jobs will be created along with 50 engineering, management, and accounting jobs,' he said.
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