BIMINI, Bahamas, November 7, 2023 – The government has signed a management agreement for a public private partnership (PPP) for the redevelopment of the South Bimini International Airport with Bimini Airport Development Partners Limited.
The management agreement allows a 30-year concession to manage the airport with firm commitments to invest $80 million into what will be a new state-of-the art facility over two phases.
The first phase, an investment of $30 million, comprises airside and terminal improvements to enable international commercial traffic and commenced after the signing, which took place on Bimini on Monday, November 6.
These projects will include planning and design; initial runway improvements; temporary terminal improvements, access road modifications, and apron expansion; equipment, maintenance, storage, and cargo facilities; a fixed base operator – including fuel farm and apron; and other ancillary projects.
The second phase, valued at $50 million, will involve the construction of a new airport passenger terminal and other ancillary facilities, such apron and FBO expansion, to support airport operations.
Prime Minister Philip E. Davis said on Monday that though Bimini is on the westernmost end of The Bahamas, it is at the forefront of the government’s agenda.
“This airport will generate new jobs while sustaining old ones, spur greater market access, and attract more foreign direct investment,” Prime Minister Davis said. “Ownership and operation of retail businesses and concessions at the Bimini airport will be restricted to Bahamians. The airport will also provide new opportunities for Bahamian jobseekers, while maintaining existing employees with similar if not more favorable terms. In short, the airport will employ Bahamians and promote Bahamian businesses.”
Deputy Prime Minister Chester Cooper, who is also Minister of Tourism, Investments and Aviation, said this latest agreement is another successful step in the realization of the Family Island Airport Renaissance Project.
From January through September in 2023, Bimini had 805,380 overall arrivals, a 138.4 percent increase over the same period in 2022 and a nearly 840 percent increase over 2019.
“We see that Bimini is growing exponentially and is really the gateway to The Bahamas being our most proximate island to the United States, our largest consumer market,” DPM Cooper said. “Therefore, it’s fitting that we find a partner who can bring Bimini’s airport up to a standard that can not only meet the demand and growth of the destination, but also give our residents and guests an incredible experience while providing jobs and business opportunities.”
DPM Cooper said the PPP model of government-owned airports being managed by private entities has proven successful in The Bahamas with the right partner.
“We’ve found the right partner that brings a combination of financial wherewithal, construction experience and management expertise,” DPM Cooper said. “This speaks to the meticulous work of the Airport Authority, the Department of Aviation, the Bahamas Investments Authority, the Office of the Attorney General and the Ministry. It also signals the commitment of the government to revolutionize our country’s airport infrastructure.”
Bimini Airport Development Partners Limited is jointly owned by Phoenix Infrastructure and Plenary Americas. The partnership includes Avports, an airport operations company.
Plenary Americas is a long-term infrastructure investor, developer, and asset manager of public private partnership projects across the US, Canada, and the Caribbean. Founder and CEO of Phoenix Infrastructure Group Jeremy M. Ebie said his group is extremely pleased to be part of this project and proud to be working in partnership with Plenary Americas and Avports “as we deliver a world-class airport to the people of Bimini and the Commonwealth of The Bahamas.”
“As world travel continues to rise beyond pandemic-era levels, now is the perfect time to deliver enhanced access for air carriers to this beautiful part of the world through an upgraded facility that this island deserves,” he said.
