$60m 'only a portion' of overall benefit for Bahamians
By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net:
BAHA MAR executives say the $60 million allocated to Bahamian contractors is only a portion of the overall direct benefit earmarked for locals.
Robert Sands, Baha Mar's senior vice-president for governmental and external affairs, said it is "erroneous" to portray the initial $60 million being allocated as the total direct benefit to Bahamians.
He said the company's pledge to award all contracts for the $200 million first phase construction of the $2.6 billion Cable Beach redevelopment is still current. And the figure released to the public represents those initial works the company has quantified.
"Our position has not in fact changed. We have always said in the first phase the value of the works was around $200 million. The first part of that $200 million is $60 million; that is what we have announced and put a value on immediately," said Mr Sands.
The work scheduled for phase one includes the road re-routing, the building of the Commercial Village and the Pompey Village Straw Market.
There "absolutely" will be additional money to be earned by Bahamians in the remaining phases of the project, whether through direct contracts with local companies, the employment for tradesmen or the purchase of local goods and materials, he said.
October 08, 2010
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