NASSAU, Bahamas, CMC – The Bahamas authorities has confirmed that the non-public sector companions concerned within the redevelopment of the Grand Bahama Worldwide Airport have failed to lift the mandatory funding.
Tourism, Investments and Aviation Minister Chester Cooper advised reporters that the UK-based Manchester Airport Group, chosen underneath a public-private partnership, had not delivered the funding officers anticipated.
“Regrettably, the funding had not occurred. We’re at the moment organising various funding. While I can’t converse to that at the moment, I can inform you that we’re making progress and in the end I will likely be making an extra assertion,” he stated relating to the US$200 million undertaking.
That is the newest setback to the redevelopment undertaking, which delays and shifting timelines have plagued because it was devastated by Hurricane Dorian in 2019.
Final yr, the Phillip Davis authorities outlined a sweeping US$20 million transformation programme, including that work would start earlier than the tip of the yr. Design choices had been unveiled, and demolition of previous terminals was stated to be imminent. Regardless of these pledges, financing was by no means secured, and substantive building by no means commenced.
The federal government acquired the power in April 2021 and has repeatedly promised to ship a brand new, trendy hub by 2025. The general public-private mannequin was supposed to reflect the association at Lynden Pindling Worldwide Airport, with the state proudly owning the power and personal companions managing operations.
