Bahamas News
BAHAMAS: Global Holding PLC Wins Port Development Bid
#Nassau, February 25, 2019 – Bahamas – Global Ports Holding (GPH), a leading international player in the cruise tourism industry and the world’s largest independent cruise port operator, is pleased to announce that it has been selected as the winning bidder for the redevelopment and operation of Prince George Wharf, the main cruise port in Nassau, Bahamas.
“This project marks the beginning of a new Bahamian success story,” said Mehmet Kutman, Chairman of Global Ports Holding. “The Government of the Bahamas is opening doors to create the kinds of opportunities that will make life better for all Bahamians. As the successful bidder for the cruise port project, we are extremely pleased and honored to have been selected as the Government’s partners in this transformational process.”
Mr. Kutman continued, “For us, this project isn’t just about developing a clean, efficient, modern port – it’s about doing what’s right by the Bahamian people. Global Ports Holding would never have become the world’s leading independent cruise port operator if we didn’t fully commit our talent, time, and resources to the people who live and work in the places we serve. In many of those countries, the struggles of the people are the same. They all want to live better. They all want financial security. They all want their children’s futures to be bright and secure. Bahamians want the same things. By working together through this transformative project, we can create the kind of positive change that Bahamians want to see and feel. It’s up to us to make it happen.”
“We have a shared mission – to turn the port and downtown Nassau into a popular, world-class waterfront destination for visitors and Bahamians to enjoy,” he added. “We know that the cruise industry is flourishing. Bahamians must be a part of it – not just sitting on the sidelines watching others benefit. We want every Bahamian who is willing and able to participate in this process to get involved. This will be a critical component of our mutual success.”
Mr. Kutman concluded his remarks by reaffirming that “The Government of the Bahamas is not selling the port to Global Ports Holding or to Nassau Cruise Port Ltd., the management company that we have established to operate the port. The cruise port belongs to the people of the Bahamas. That will not change as a part of any agreement we sign. What we aim to do, as a proud partner and steward, is to help Bahamians maximize this opportunity to celebrate the best of their incredible country while empowering themselves. It’s been a long time coming, but now is the time.”
The project start date is subject to customary negotiations with the Government of the Bahamas and regulatory approvals before an agreement is signed, which is expected to take 60 – 120 days.
The $250 million winning proposal submitted by Global Ports Holding includes plans to transform Prince George Wharf into a state-of-the-art port and waterfront destination managed by Nassau Cruise Port Ltd. (NCP), a specialty purpose vehicle created for the project. Under the proposed ownership structure of NCP, Global Ports Holding will own 49 percent of the company, while another 49 percent will be owned by the Bahamas Investment Fund (BIF). BIF will be created to serve as an investment vehicle which will allow tens of thousands of Bahamians to become shareholders in the project. The final two percent will be used to establish the YES Foundation, a charitable fund that will support youth, education and sports programs. The plan also includes the development of a world-class entertainment venue, the formation of partnerships with local stakeholders and various forms of support to improve the state of the downtown core.
Photo Caption:L-R – Permanent Secretary – Charles Albury; Minister of Tourism and Aviation – the Hon. Dionisio D’Aguilar; Chairman of Global Ports Holding – Mehmut Kutman; President & Founder, CFAL- Anthony Ferguson
About Global Ports Holding
Global Ports Holding (LSE: GPH), is the world’s largest cruise port operator with an established presence in the Mediterranean, Atlantic, and Asia-Pacific regions, including 16 cruise ports and 2 commercial ports in 10 countries. GPH serves over 9 million passengers at its cruise ports and handles over 300,000 TEUs and about 5 million tons of total cargo at its commercial ports.
Press Release: Ministry of Tourism
Bahamas News
Get your laugh on, March On, family drama by Gea Pierre, debut this weekend in Turks and Caicos
This is the sixth edition of the relays and the fourth time that The Bahamas has hosted the event, which actually made its debut in The Bahamas in 2014.
President, World Athletics, Sabastian Coe said after three very successful editions from 2014 to 2017, the World Athletics Relays has quickly become one of the World Athletics vibrant competitions, developing a culture of fun and innovation that gives it a unique flavour.
He thanked the Bahamas Government, the local World Athletics Relays Bahamas 24 committee and the Bahamian people for agreeing to host the relays. However, his main thanks were to the “world’s best sprinters” travelling from all the continents to compete in preparation for the road to Paris, France, in two months’ time.
During the opening ceremony, the athletes were given words of advice from Carl Lewis, one of only four Olympic athletes to have won nine Olympic gold medals, who is widely recognized as one of the greatest athletes of all time.
He said, “Keep it simple, do not try to do anything extra. Do what your coaches said. Leave on time, leave on time, leave on time.”
The athletes and crowds were treated to the sounds and sights of Junkanoo at the end of the opening ceremony. The Junkanoo performers stuck around for the two days of competitions, playing for the sprinters as they competed on the track.
Teams competed in the Women’s and men’s 4x100m, and the women’s men’s and mixed 4x400m. A total of 14 teams at the World Athletics Relays Bahamas 24 automatically qualified for places at the Paris 2024 Olympic Games. Both days of competition were important, as day two offered another chance for qualifications for those teams unsuccessful on day one.
Bahamians were made proud as the country set a new national record during the mixed 4x400m relays thanks to the efforts of 16-year-old Shania Adderley, a student of Tabernacle Baptist Academy.
The team came first in their heat on Sunday evening after not being able to gain a spot for the Paris Olympics on the first day of competition.
Other sprinters on the team included Alonzo Russell, as well as Olympic champions Steven Gardiner and Shaunae Miller-Uibo.
NASSAU, The Bahamas – During his remarks at the Opening Ceremony for the World Athletics Relays 2024, on May 4, Prime Minister and Minister of Finance the Hon. Philip Davis welcomed the special guests, athletes, officials, and “all lovers of athletics from around the world” to the Thomas A. Robinson National Stadium here in the “vibrant heart” of Nassau, Bahamas.
“This weekend, the world’s finest athletes gather on our shores to embark on a journey that is not only about speed and strength but also about dreams and determination,” Prime Minister Davis said. “From the serene beauty of our islands to the historic grandeur of Paris, this event marks a crucial path to the Olympic Games in Paris 2024.”
He added: “Here in The Bahamas, we are no strangers to world-class athletics or the warmth and exuberance that such international gatherings bring. It is a distinct honor to once again welcome the World Athletics Relays back to our islands. This event holds a special place in our hearts, symbolizing a bridge between nations brought together by the universal language of sport.”
Prime Minister Davis noted that that year’s theme, “Paradise to Paris,” captured the essence of that journey.
“It is here, amidst the splendor of our sun-kissed beaches and the rhythmic sway of our palms that the chase towards Olympic glory begins anew,” he stated. “We are thrilled to offer a backdrop of unparalleled beauty, where every sprint, every baton pass, and every victory lap is set against the picture-perfect canvas of our islands.”
He added: “To our athletes, I say this: as you stand on the precipice of your dreams, ready to catapult yourself into the annals of history, know that you are part of a legacy of excellence and determination. This weekend, you are not only competitors but also ambassadors of your countries and the spirit of sport. We are especially proud of Team Bahamas, who carry the weight of their performance and the hopes and pride of our nation. You embody the spirit of The Bahamian people, and we are behind you every step of the way.”
Prime Minister said that to the international visitors, he extended “the warmest Bahamian welcome”.
“Over the next few days, as you revel in the thrill of competition, take a moment to bask in the beauty of our island,” he stated. “Discover why we proudly say, “It’s Better in The Bahamas.” Whether it’s the hospitality of our people, the tranquility of our waters, or the rhythm of our culture, you are in for an experience that captures the heart and rejuvenates the soul.”
“Let us celebrate the unity and friendship that sports foster, cheering every athlete and savoring the spectacle of human potential at its best,” Prime Minister Davis added. “I hope the races are swift, the results are inspiring, and the memories are lasting.
“Welcome to The Bahamas, the paradise where champions chase their dreams to Paris. As your host, it is my immense pleasure to declare the World Athletics Relays Bahamas 2024 officially open. Let the games begin.”
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