NASSAU, Bahamas — The deputy prime minister yesterday unveiled a $200m Grand Bahama International Airport redevelopment that aims to ultimately transform the facility into an international “air cargo hub” for the Caribbean and Latin America, The Tribune reported on Friday, March 17, 2023 in an article written by Business Editor Neil Hartnell.
Chester Cooper, also minister of tourism, investments and aviation, in confirming the long-anticipated deal at the Grand Bahama Business Outlook also disclosed that the mixed Bahamian and UK joint venture consortium that won the bid plans to “consistently generate 1,200 construction jobs” over the project’s five-year build-out.
Signalling that the group’s ambitions extend beyond re-establishing a tourism gateway, and the return of US pre-clearance, he said their plans to establish an air freight hub for the region were designed to create an extra 500 jobs over a 10-year period.
Mr Cooper confirmed previous exclusive Tribune Business revelations that Bahamas Hot Mix (BHM); its chairman, Anthony Myers; and CFAL president Anthony Ferguson were all members of the Bahamian investor group that will spearhead what was billed as a complete overhaul of Grand Bahama International Airport. They are joined in Aerodrome Ltd by two fellow Bahamians – Anthony Farrington, an engineer; and Greg Stuart, a businessman.
BHM’s involvement in the project is through its UK-based international arm, BHM Construction International. The group has teamed with UK-based Manchester Airport Group as its operating partner, with financing for the project being provided by UK Export Finance, a British government body that provides credit guarantees and helps to arrange funding for that nation’s exporters.
Acknowledging that upgrading the airport, which was left in a state of disrepair following the devastation inflicted by Hurricane Dorian in September 2019, is “a key factor” in facilitating both Grand Bahama’s economic rebound and the Grand Lucayan’s sale, Mr Cooper pledged: “Grand Bahama, your new airport is coming and will be here very soon.”
He added that the Government has signed the agreement with Aerodrome Ltd, and its partners, in February 2023 for the airport’s redevelopment via a public-private partnership (PPP) that will see the consortium design, build, finance, upgrade and maintain a new main aviation gateway for Grand Bahama.
The consortium’s role, Mr Cooper said, will be to “generate [aviation and passenger] traffic, and to grow revenues and further enhance Grand Bahama International Airport”. He added: “Their mission is to transform Grand Bahama International Airport into a carbon neutral, climate resilient, commercially viable world-class airport.
“Subject to final design, this is expected to be an investment of $200m in that range, and this investment will begin its preliminary work this quarter, this month; March. The airport will consist of two phases which are expected to generate 1,200 construction jobs consistently over the next five years.
“Ninety percent of these jobs will be reserved for Bahamians, and work permits will only be granted where Bahamians cannot be found in accordance with our Immigration laws and policies. During the construction of phase one of the new Grand Bahama International Airport, which we expect to be completed no later than the first quarter of 2025, 300 construction jobs will be created along with 50 engineering, management and accounting jobs.” See complete article in The Tribune at http://www.tribune242.com/news/2023/mar/17/air-cargo-hub-ambition-gbs-200m-airport/
