Bahamas Government Lists Airports to benefit from Half a Billion in Funding

By Rashaed Esson

Staff Writer

#TheBahamas, March 1, 2023 – According to the Minister of Tourism Investments and Aviation, Chester Cooper, the Government will launch requests for proposals (RFP) for public Private Partnerships, on the 1st of March for the reconstruction of fourteen airports on several Family Islands, which will total more than $500 million.

Of the fourteen airports across the archipelago, four have been categorized as Tier 1 namely the Exuma International Airport, the North Eleuthera International Airport, the Governor’s Harbour International Airport and the San Salvador International Airport.

While the Tier 2 list includes:  Eleuthera’s Rock Sound International Airport, Cat Island’s New Bight International Airport and the Deadman’s Cay International Airport in Long Island.

Furthermore, the Staniel Cay Airport, the Black Point Airport, the Sandy Point International Airport, the Treasure Cay Airport, and the Congo Town airport have been deemed Tier 3.

Noticeably absent from the lists, Grand Bahama; Deputy Prime Minister Cooper said: “In terms of aviation, we have reached an agreement on the Grand Bahama International Airport. Essentially, we’re just tying up loose ends in that matter and there will be significant movement there shortly.”

In addition, the airports will be owned by the Bahamian Government under the Public Private Partnership program.

However, the private partners will be awarded a concession and lease for the airports lasting up to thirty years. Not only that, there will be opportunities for either individual investments or investments through a bundle portfolio approach.

It is important to note that these Private sector entities will not only be tasked with designing and redeveloping the airports but also maintaining them.

In continuation, Cooper announced at a pre-mid-year budget economic briefing, that progress is being made in relation to foreign direct investment of more than six billion US dollars with the majority on Family Islands.

Cooper further highlighted that the improvement of the airports will boost the economy.

“Redeveloped airports in Abaco, Eleuthera, Exuma, Bimini and Long Island will mean new money, new jobs and new growth for our islands that can work toward creating new economies,” he said.

He added that Investments in the Islands will include real estate developments, marinas, hotels, renewable energy and industrial and agricultural business projects. He indicated that they include US$660 million in developments on New Providence, US$692 million on Grand Bahama, US$137 million on Eleuthera, US$685 million on Exuma, one billion US dollars on Abaco and US$250 million on Long Island.

“These are real, tangible projects that are multimillion-dollar in scope, with proof of funds and set dates for

commencement.”

“Millions are spent with local professionals – lawyers, engineers, architects and environmental specialists – even before the first shovel hits the ground. We have a shovel-ready program repackaging stalled projects of the past where the groundwork is done, to speed up development, thus speeding up economic impact,” Cooper added.