Multi-Billion Grand Bahama Project In Discussion
With the paperwork as proof for the funding of a multi-billion dollar project in East Grand Bahama complete, investors of the proposed development are expected to return to the table for another round of talks with government.
“By the end of this month, if not sooner, we expect to present our financial credentials to the government,” former Cabinet Minister Kenneth Russell told The Freeport News last week.
Two months ago, Russell, who has played an integral role in pitching the mega development to government over the last three years, along with partners of the Kylin International Group met with Prime Minister Perry Christie with a view of engaging talks to move the project ahead.
It was then that the prime minister requested proof that the proposal to develop eight hotels, a casino and a cruise ship terminal in East Grand Bahama would be properly financed.
Since the December meeting, executives of the investment group and members of the task force, which government formed to work with them have travelled to New York and met with major hotel chain — the Plaza Hotel and luxury hospitality company Cipriani.construction, grand bahama, investments