Sir Jack Hayward Sets Record Straight On Billion-Dollar Investment
December 19, 2011
Setting the record straight on the $1.5 billion deal, Sir Jack Hayward issued this statement yesterday.
“The Grand Bahama Port Authority has read with some interest the correspondence regarding a proposed development on Grand Bahama involving an investment of $1.5 billion.
“If the parties involved in this proposed investment are the same (and we suspect they are), then we at the Port Authority had lengthy and extensive discussions with them and have done due diligence on these parties. We discovered that they completely failed to CHECK OUT, and would not have been able to fulfill their promised commitments for a development in the Freeport area. They then appeared to have approached Government for a different area of land to do their development.
“Without going into lengthy explanations readers must read into the words, CHECK OUT, as they should.”
The much talked about $1.5 billion proposed development deal for Freeport has been the topic of many conversations, including a meeting which was called by Prime Minister Hubert Ingraham last Sunday in Grand Bahama.
In that meeting the prime minister clarified the government’s position on the deal, which he said was brought to him, by the former Minister of Housing Kenneth Russell, whom he requested the Governor General to dismiss from the ministerial post.