Categorized | Business, National News

$250M Expansion for Container Port

Construction teams are expected to commence a $250 million expansion to Freeport’s Container Port this summer, Prime Minister Perry Christie announced Monday.

Mr. Christie said his government is now working on a Memorandum of Understanding that he hopes to present to Cabinet sometime soon.

“As we move resolutely on the revival of Grand Bahama’s economy, my government is not only advancing tourism, but is also focusing on the industrial and other related sectors of the broader economy,” he said.

“In this regard I am pleased to confirm that positive conversations have taken place between me, my representatives and the principals of Hutchinson MSC Shipping and the Grand Bahama Port Authority on a $250 million expansion of the Freeport Container Port.”

According to Mr. Christie, who is also the minister of finance, the expansion should not be a long drawn out process as it is expected to begin during the summer.

“The major expansion is expected to result in some one million additional containers passing through Freeport annually,” Mr. Christie said.

“Furthermore, the initiative being taken by my government is designed to grow other existing businesses, to attract major new investments and value added enterprises to Grand Bahama. All of this will have a spin of effect within the Grand Bahama economy, creating many new entrepreneurial employment opportunities.”

Mr. Christie said he is calling on Grand Bahama’s business community to work along with the National Training Agency to ensure that people are well equipped with the skills to take on these jobs.

Grand Bahama’s unemployment figures have dipped slightly over the past few months.

According to Mr. Christie, over 1,000 new jobs have been created on that island so far this year, most of which are in the tourism industry.

The prime minister said that Grand Bahama is projected to earn nearly $60 million during the first year of Sunwing’s newest resort – the Memories Grand Bahama Beach and Casino Resort in Lucaya..

The opening of the hotel brings about the projection of increased airlift to the island as well.

Written by Jones Bahamas

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