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Government signs HOAs with Carnival on projects worth $180m

The government yesterday signed two separate heads of agreements with Carnival for the $100-million development of a cruise port in Sharp Rock, Freeport, and an $80-million expansion of Half Moon Cay. Pictured: Prime Minister Dr Hubert Minnis (left) and Giora Israel, Carnival Corporation's Senior Vice-President/Global Port and Destination Development Giora Israel (next right) at the signing ceremony, Office of the Prime Minister, September 25, 2019. (BIS Photos/Yontalay Bowe)

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TheBahamasInvestor.com
Thursday, September 26, 2019
Thursday, September 26, 2019

The government yesterday signed two separate heads of agreements with Carnival for the $100-million development of a cruise port in Sharp Rock, Freeport, and an $80-million expansion of Half Moon Cay.

Prime Minister Dr Hubert Minnis noted the significance of the Freeport signing in the restoration and recovery of Grand Bahama following Hurricane Dorian.


“A major part of reconstruction, which has become even more urgent, is the ongoing economic recovery and revitalization of Grand Bahama,” said Prime Minister Minnis

“The government expected to sign a Heads of Agreement with Carnival Grand Bahama Investment Ltd and the Carnival Corp for a new cruise port a few weeks ago. Because of Hurricane Dorian the initial date for signing had to be postponed. I am pleased that we are able to have today’s signing to help in the restoration and recovery of Grand Bahama.”

Carnival Corp has agreed to develop a new island destination on Grand Bahama on 329 acres of land in Sharp Rock. The cruise port will be the largest Carnival cruise port in the world.

The facility will lead to significant job creation in the construction phase as well as long-term, said Prime Minister Minnis.

“There will be significant opportunities for business development and entrepreneurship by Bahamians. The new port will result in greater Bahamian ownership in terms of a range of business opportunities,” said the Prime Minister.

When completed, the new port is expected to bring millions more tourists to Grand Bahama each year.

The port includes aquatic facilities, food and beverage pavilions, restaurants and nightclubs, a shopping plaza, zip lines and sports facilities, miniature golf course, park areas, open air concert facilities and a transportation hub.

The government also signed an agreement with Carnival for the further development of Holland America Line’s Half Moon Cay (Little San Salvador). The expansion includes the construction of a cruise pier on the north end of Half Moon Cay, as well as supporting land-side facilities at the pier site.

The capital investment will total $80 million, and will include the construction of aquatic facilities, beach restoration, restaurants and nightclubs, a shopping plaza, sports and entertainment facilities, nature trails and the development of park and/or natural reserve areas.

Both heads of agreements will be tabled in the House of Assembly.

“In order to rebuild Abaco and Grand Bahama, we have to spur economic development throughout the country,” said Prime Minister Minnis.

“We must also accelerate economic projects on Grand Bahama and begin rebuilding on Abaco as soon as is possible.”

The Bahamas delegation attended the opening of the General Debate of the 74th United Nations General Assembly.

Hurricane Dorian continues to top the news this week as tourism losses mount in Abaco and Grand Bahama, and CIBC reschedules its Walk for the Cure event. Watch a ZNS Network business news report here.

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