Baha Mar project is good for The Bahamas

Forward with Baha Mar
The Bahama Journal Editorial



By way of this commentary, we reiterate a point previously made to the effect that this Baha Mar project is good for the Bahamas and that as such, its approval should be put on the fast track.

We base our conclusion in our conviction that –as designed- this project promises to double the marketing this country now enjoys.

This in turn, promises any number of ancillary benefits.

As Stephen Wrinkle, Bahamas Contractors Association underscores: "Remember what an impact we had when they built phase three of Atlantis. What they’re doing with Baha Mar is equal to all of the phases they did at Atlantis and they’re doing it one phase. This is a big deal…"

As regards the question concerning labor and its role in the realization of the Baha Mar project, Mr. Wrinkle said they were sorely needed.

Here Wrinkle notes that, “…They are calling for 8,000 workers out there; 4,000 workers have got to be found; we can’t provide 4,000 workers. We’d be hard pressed to provide half of that. On these big international projects it’s just a fact of life. We’ve sat at the table; the BCA has tried to represent the interests of Bahamian contractors and workers and we’ve had some success with Baha Mar; they’ve been receptive."

For our part, then, we are very optimistic concerning the goods that come packaged in with this initiative. And so today, we can go no further except to note that, Baha Mar is apparently well on its way to becoming a done deal; this because the current administration has apparently been satisfied with the outcome of prime minister Ingraham’s talks in Beijing on the matter in hand.

This is eminently good news for the Bahamian people.

We wish all well who worked so long and so hard to bring this matter to this state of high resolution. Parenthetically so to speak, this venture yet owes a debt of gratitude not only to the current administration; but also to its predecessor.

And so today we note that, time, reason and commonsense having been congealed into something akin to real understanding are apparently working their magic in a Bahamas where petulance, spite and nit-picking sometimes wreak havoc.

And for sure, as we have consistently lamented, these are surely some of the hardest days experienced by most Bahamians alive in what some of them might deem a ‘modern’ Bahamas.

It is just as true that, some of these Bahamians –having grown accustomed to relatively prosperous times – are beside themselves in distress.

While these hard times might well persist for an indefinite length of time, there is reason for some optimism as certain storm clouds recede; with some of these once shadowing the Baha Mar project with a veil of uncertainty.

Mercifully, things seem to be going in the right direction as the government now signals its intention to move forward with this singularly important venture.

Yet again, we reiterate that, we would very much like both the governing party and its Opposition to know that each has done itself a world of good by working together so as to bring about an optimal resolution as regards this Chinese funded initiative.

Incidentally, all of these groups and interests support the Baha Mar project and recognize the immediate and real benefits they will gain from its going forward.

Here we are also quite certain that, in the fullness of time, both parties would come to the conclusion that, each was guilty of making a mountain of a mole-hill as regards the Chinese request for thousands of expatriate workers who would assist in constructing the resort complex.

In this regard, we advise all and sundry that, this matter is not the biggest in the world and that, we all stand to gain tremendously once the Baha Mar project is off and running.

As we have previously suggested and explained, “…Let there be no mistake about the matter at hand – the Baha Mar project is a very big deal; it is not only a big deal to the investors who are putting their money on the line; but for sure, it is a huge deal for both the government and the people of The Bahamas.”

And we also went on to explain, “…“And here, let there be no mistake about another aspect of the matter involving this project – this project brings with it a large chance that – once completed – tens of thousands of Bahamians will benefit, either directly or indirectly…”

This remains our view.

November 17, 2010

The Bahama Journal Editorial

Bahamas Blog International

Sir Sol Kerzner - Kerzner International Chairman and CEO - has concerns about the terms of the Baha Mar deal

Kerzner concerned about terms of Baha Mar deal
By CANDIA DAMES
Guardian News Editor
candia@nasguard.com


Kerzner International Chairman and CEO Sir Sol Kerzner has concerns about some of the terms of the $2.6 billion Baha Mar deal, Prime Minister Hubert Ingraham said yesterday.

Ingraham told reporters at a meet the press event that he met with Kerzner yesterday morning to discuss those concerns.

“There are some concerns on the part of Kerzner as to the extent to which Baha Mar is getting a deal from The Bahamas that is more favorable to them than Kerzner got,” Ingraham said.

“In 2003 when the government of the day signed an agreement for Kerzner to do its phase three, it agreed that nobody would get a better deal in The Bahamas for any development than Kerzner got.”

He added, “They are concerned about the extent to which they themselves had to pay huge sums of money for property to do their development and Baha Mar was given property at [concessionary] prices. Secondly, they were required to hire 70 percent (Bahamian) workers on their job, and only 30 percent foreigners and we are considering giving Baha Mar these 5,000 to 8,000 Chinese workers.”

Ingraham said Kerzner International officials will get back to the government on the extent to which they have justifiable reasons for their concerns.

“And we will review their concerns and make determinations, but in the meantime it will not interfere with our intention to approve the Baha Mar project by the end of this month,” he said.

Asked whether Kerzner International plans to pursue a phase four of its development, Ingraham said, “The reality is even if they had the money and even if they had the will, the desire, nobody would do a phase four at Atlantis if you’re going to put down on Cable Beach another 2,600 hotel rooms and all the facilities.

“The reality is that there is only one market. Nassau is only just one place and airlift and business and profitability and room rates and the whole host of things (come into play). So it isn’t likely that they are going to do another phase at the moment. That’s not likely.”

Ingraham said Kerzner told him yesterday that there is no truth to rumors that he is considering selling the Atlantis Resort on Paradise Island.

“He said absolutely not,” Ingraham said. “I believe him.”

11/15/2010

thenassauguardian

Bahamas Blog International