The Port of Nassau in the Bahamas Has Begun a Major Transformation.

Bahamas Port of Nassau To Undergo a Major Renovation and Expansion Nassau Cruise Port
Bahamas Port of Nassau To Undergo a Major Renovation and Expansion

A popular port on cruises departing from New York and New Jersey, Nassau in the Bahamas is making a massive investment to improve the cruise port. The Project which will be completed in 3 phases, the project has begun.

Nassau Cruise Port Ltd. (Nassau Cruise Port) is pleased to announce that it has successfully raised over $130 million through its private bond offering. The bond offering was launched on May 4 and closed on Friday, May 15, 2020. Colina Financial Advisors Ltd. (CFAL), the lead placement agent for the bond issue, has confirmed that the offering was oversubscribed.

Mike Maura, Jr., CEO of Nassau Cruise Port, shared his appreciation for the support and confidence of so many investors and stakeholders during these difficult times. “We wish to thank the many investors who recognize the national importance of this project and have given us their backing. We are also very grateful for the assistance of the Central Bank of The Bahamas and the Securities Commission of the Bahamas, whose extensive support helped to make this effort so successful. Through construction and other requirements, our project will immediately produce much-needed jobs and support the creation of small and medium-sized businesses.”

“During these unprecedented times,” he continued, “this essential project will put food on the table for many Bahamians who didn’t know how they were going to feed their families in the weeks and months to come.” A 2018 economic impact assessment conducted by KPMG concluded that the project would have a $300 Million impact on the Bahamian economy during the development phase and a $15.7 Billion contribution over the 25-year concession period.

The redevelopment of the port facility will occur in three phases. The first phase of the project, which involves the demolition of current buildings and structures, is underway. Phase two, commences within 60 days, and involves completing the marine works, which includes material purchases, an expansion of the berthing capacity of the port, and upgrades to existing infrastructure. In phase three, we will complete the landside works, including the new arrivals terminal and plaza, Junkanoo Museum, retail Market Place, amphitheater, and other food and beverage and entertainment spaces. The funds raised through the most recent bond offering will be used to support the work of phases one and two.  In the second quarter of 2021, we will launch an initial public offering (IPO) to raise equity through investment in the Bahamas Investment Fund (BIF) and to raise additional debt to finalize the project. Through the IPO, thousands of Bahamians will have an opportunity to invest in BIF, facilitating broad-based Bahamian ownership in the project.

  RETURN TO NYCRUISEINFO.com

  ---------------------------------------
  Sister Sites
=> NYCruiseInfo.com Website - Cruise Schedule, Ship Reviews, Ports of Call & More.
=> Nick's Cruise Corner Blog - News On Cruise Ships Sailing World Wide.
=> Follow Us on Instagram - NYCruiseInfo At Instagram
=> Subscribe to Our Monthly New York Cruises Newsletter

.

Comments

Post a Comment

Popular posts from this blog

When Will Cruising Return to New York and New Jersey?

Image
The Return to Cruising From New York and New Jersey Is Still TBD (To Be Determined) For months now, the cruise lines have been discussing the restart of operations.  All communications have identified the return to cruising to be primarily in Florida (Miami and Port Canaveral) and the Gulf Coast ports in Texas. There has been no mention of cruising returning from the port of New York and New Jersey. With the recent spike in coronavirus cases in Florida and the Gulf Ports. The cruise lines have turned their attention to Europe. The European Union has also put into effect a series of restrictions and guidelines cruise lines need to follow which will greatly reduce the ship's capacity and impact the onboard experience. It does not appear that New York or New Jersey is part of the phase 1 of   the initial return to service after the pause. My best guess would be April of 2021 with a limited return to service when the Bermuda, New England / Canada and Florida / B
Read more

Totally Renovated Carnival Victory to Sail From New York in 2020 as the Carnival Radiance.

Image
Carnival Cruises Carnival Radiance to Sail From New York in 2020 (formerly the Carnival Victory) Carnival Cruise Line today announced the diverse inaugural schedule for the totally transformed Carnival Radiance, including 9- to 13-day European voyages, the line’s first to Cuba from New York and Norfolk, four- to nine-day sailings to the Caribbean, Canada/New England from New York, and a winter season of voyages to the Caribbean and Cuba from Port Canaveral, Fla. Carnival Radiance’s Diverse 2020 Inaugural Season Following a $200 million dry dock that will take place in Cadiz, Spain, Carnival Radiance will debut April 29, 2020, with a 10-day Mediterranean sailing from Barcelona followed by nine-and 12-day departures visiting top destinations throughout the region, including Italy, France, Croatia, Greece, Malta and Spain. The ship will then embark on a 13-day trans-Atlantic crossing from Barcelona to New York June 11-24, 2020, positioning the vessel for its inaugural se
Read more

Norwegian Cruise Line's Norwegian Gem Review Available On NYCruiseInfo.com Website. Photos, Statistics, Amenities and More.

Image
Norwegian Cruise Line's Norwegian Gem A Favorite Among New York Cruisers NYCruiseInfo.com has just  published the cruise profile for Norwegian Cruise Line's Norwegian Gem. The Norwegian Gem is a favorite of New York cruisers and for years has served New York on the New York to Bermuda ; New York to Florida and The Bahamas , New York to New England / Canada , the Panama Canal and the Caribbean . During the Summer the Norwegian Gem has been sailing from Boston to Bermuda and Canada, but during the off season continues to sail from the Big Apple. The learn about the Norwegian Gem's  public rooms, staterooms, dining options, statistics and more - check out NYCruiseInfo's Norwegian Gem Review .  RETURN TO NYCRUISEINFO.com   ---------------------------------------   Sister Sites => NYCruiseInfo.com Website - Cruise Schedule, Ship Reviews, Ports of Call & More. => Nick's Cruise Corner Blog - News On Cruise Ships Sailing World Wide. =>
Read more