BY OSWALD T. BROWN
WASHINGTON, D.C., June 28, 2024 – Bahamas Prime Minister Philip E. Davis on Thursday cut the ribbon to officially reopen the Liwathon South Riding Point Terminal in Grand Bahama, a major investment of $72 million investment that represents the largest US EXIM-funded project within the Caricom Community (CARICOM) region.
“This initiative will generate 80 new jobs and boost local commerce, propelling Grand Bahama towards a more vibrant and prosperous future,” Prime Minister Davis said. “It’s a big day, not just for the Liwathon South Riding Point Terminal and the island of Grand Bahama, but also for maritime energy and transatlantic shipping..”
He added, “The Bahamas, as a major transshipment and fueling hub, is a natural fit for this operation and Grand Bahama is the ideal locale for this major investment. You know, there’s a reason Grand Bahama got its name: Grand Bahama is the only island that can support projects such as this one on a grand scale. While Grand Bahama may not have as much land mass as our largest island, Andros, it certainly has a strong presence in shaping the social and economic character of this nation. And the people of Grand Bahama, whether they’re from Freeport, West End, or right down the road in High Rock, are ambitious, resilient, and enterprising.”
The Prime Minister said that once fully operational, this “project will create 80 jobs and will also stimulate the economy through commerce with local businesses providing inspection, maintenance, hospitality services, and other sectors that will benefit from this project.”
“My government believes in this island and its people, and I thank the Liwathon Group for believing in Grand Bahama, too,” the Prime Minister said. “This is but the latest of several strategic initiatives underway in Grand Bahama. From a historic Health Campus in Freeport, to an Afro-Caribbean marketplace at the site of the former international bazaar, we are hard at work. Still, it will take a lot more work to fully revitalise Grand Bahama, as we continue the long trek toward economic recovery and revitalization post-Hurricane Dorian.”
Noting that Hurricane Dorian took a toll on the northern islands. of The Bahamas, The Prime Minister added, “Along with many lives lost and billions in damages, five million gallons of oil spilled out into the local Grand Bahama environment from the previous terminal, tarnishing the surrounding landscape. Even after 18 months had passed, high concentrations of oil still remained, undermining ecosystems and ecological services. . . . In the midst of this era of climate emergencies, small island developing states like ours have to weigh the costs and benefits of certain economic undertakings, especially when oil is involved and our environment is at stake.”
Declaring that in addition to being strategically located, The Bahamas has always been strategic, The Prime Minister said, “And while we usher in a clean and just energy transition for our own country, we recognise that we must also seize current opportunities that will allow us to level the scale. In doing so, we must be prescient in our regulatory frameworks, and proactive in our protective measures. Globally, Liwathon has a reputation for operating at a high standard of safety with an extensive track record of risk management. They have brought that same approach here, demonstrating a willingness to comply with our standards and approach this project as safely as possible, which is absolutely necessary, given the nature of this industry and the still recent memory of the oil spill that damaged this area. Moving forward, we will continue to require that safety and conservation of the environment are balanced against our need for investments and economic growth and diversification – not just for this project but for all projects launched within our borders.”
Describing the reopening of this terminal as “truly a symbolic day for a revived and renewed Grand Bahama,” Prime Minister Davis added, “I am encouraged by what this new beginning will bring for this island and its people. Our prospects are bright. And, as we bring in more jobs, opportunities for business, and investments into the Grand Bahama economy, we are ensuring that the future will shine even brighter.
“As we celebrate the reopening of the Liwathon South Riding Point Terminal, let us recognize its significance in our plans for Grand Bahama – boosting economic activity on the island, and creating valuable job opportunities. May it serve as a catalyst for further progress in maritime energy and transatlantic shipping, driving us toward a brighter and more prosperous future.”
Oswald T. Brown is the Press Attaché at the Embassy of The Bahamas in Washington, D.C.
