Global Ports Holding Wins Redevelopment Bid

The Government of The Bahamas has announced that Global Ports Holding Plc has been selected as the successful bidder for the redevelopment and management of a cruise port terminal at Prince George Wharf at the Port of Nassau (Nassau Cruise Port). Global Port Holdings was one of three groups to respond to a recent Request for Proposal (RFP) inviting qualified and experienced bidders to submit proposals for a public-private partnership to design, build, operate, finance and invest in the cruise port terminal at Prince George Wharf.

The RFP was issued on 8 October, 2018. The closure date for the submission of proposals was on 7 December, 2018.

The government’s Evaluation Committee gave careful consideration to both the technical qualifications and project proposal components of each submission. The Evaluation Committee, made up of representatives of the private and public sectors, has concluded its work, culminating in a recommendation to the Cabinet. The Cabinet, following a presentation and Q&A, has accepted the Evaluation Committee’s recommendation to enter into negotiations with Global Ports Holdings.

Global Ports is considered the largest cruise port operator in the world and is headquartered in London, England. The company is publicly traded on of the London Stock Exchange. “The negotiations with Global Ports start now, to reach a deal which will be in the best interests of the Bahamian people,” said Minister of Tourism and Aviation Hon. Dioniso D’Aguilar. The overall investment is projected to be $250 million. A 25-year concessionary period is under consideration.

It is hoped that Bahamian investors will contribute more than SO per cent of the funds for the redevelopment of the cruise port, said Minister D’Aguilar. "We want as many Bahamians as possible, from all walks of life, to participate in this investment and will ensure that there is no concentration of ownership in the hands of a particular group.” This is not a sale and the Bahamian people, through the Government of The Bahamas, will always retain ownership of Prince George Wharf, he emphasised.

Minister D’Aguilar said the proposed redevelopment is expected to create opportunities for small business owners. He assured that all retail businesses, restaurants and service providers within the port will be owned by Bahamians.

On behalf of the Government of The Bahamas, the Ministry of Tourism and Aviation wishes to thank all bidders who responded to the RFP.

 

 

Ministry of Tourism & Aviation

Nassau, Bahamas

24'h February 2019