20 June 2016 - Business View Caribbean
Opening
Lines
Chinese Agree to Complete
Bahamas Megaresort
Bahamas Prime Minister, Perry Christie announced
during the 2016/2017 Budget Communication in the
House of Assembly, recently, that an agreement
to remobilize the construction and completion of
the multi-billion dollar Baha Mar Resort has been
reached and work is expected to resume soon.
Christie said the Export-Import Bank of China has
agreed to finance the project with China Construc-
tion America (CCA), a subsidiary of China State Con-
struction Engineering Company (CSCEC), complet-
ing the project, which has long sat in receivership.
He did not disclose any timelines for resumption of
construction or how much it would cost to complete
the project, but he said the details should become
apparent in the near future. Christie said the agree-
ment was reached over two days of meetings in Bei-
jing, China.
Attorney General Allyson Maynard Gibson and Sir
Baltron Bethel, represented the government’s in-
terests in the negotiations, Christie said. There was
no mention of developer Sarkis Izmirlian during the
prime minister’s presentation.
