Categorized | Featured, National News

Gov’t To Pay Baha Mar $45 Mil


Now that the multibillion dollar Baha Mar resort has reached the 100-foot mark on its casino tower, the government must now live up to its end of the bargain and pay the hotel owners some $45 million.

According to Prime Minister Perry Christie, the payment is part and parcel of its agreement for road works and other infrastructure, which he said amounted in calculation to $45 million or $45.3 million.

He added that there is an additional two or three million dollars for the continued roadworks.

“The agreement says the payment will be made once they reached the 100-foot mark and they announced it [Wednesday],” Prime Minister Christie said.

“So they brought me here presumably for me to mark this occasion, knowing that the intention is they now have to collect from us.”

He assured, however, that provisions for the amount are included in the government’s $504 million deficit.

The mega resort – touted as the largest single project in the region – celebrated the significant milestone in its development phase yesterday by hosting a small ceremony to mark the occasion.

Among those accompanying the prime minister was Deputy Prime Minister Philip Davis and Minister of Tourism Obie Wilchcombe.

Overall, Mr. Christie said his government is pleased with the development’s progress, which is taking place on time and within budget.

“The many job opportunities being created for Bahamians during construction and perhaps more importantly the several thousand permanent jobs which will be created when the resort opens, bodes well for the country’s future economic growth as the project advances. It builds credibility for the project and manifests strong confidence in the government and people of The Commonwealth of The Bahamas,” he said.

The prime minister pledged to work with the developers to ensure that Bahamians benefit from jobs and entrepreneurial activities as the project moves forward.

Baha Mar’s Executive Vice President Tom Dunlap thanked all those involved who helped the resort to reach the critical stage in its development.

He anticipates the tower reaching 200 feet shortly, adding that a bigger celebration will be on tap when it reaches 326 feet where the tower will be topped off.

China State Construction’s Executive Vice President Tiger Wu said the achievement is the first major milestone of the project, noting that there will be other major milestones along the way, with 29 and a half months to go.

Written by Jones Bahamas

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