Bahamian PM Announces Major $350Mn Investment In Grand Bahama Shipyard

• Royal Caribbean and Carnival cruise lines have agreed to a new combined investment of $350Mn in the Grand Bahama Shipyard, Prime Minister the Most Hon. Dr. Hubert Minnis announced today in his wrap-up of the 2021/22 Budget Debate in the House of Assembly. 
• The Prime Minister pointed out that to understand the scale of this investment, the original investment and other investments to date in the Shipyard have totaled approximately $250Mn dollars. “This new investment will match this and exceed it by $100Mn,” said Prime Minister Minnis on Monday 21 June 2021. 
• The proposed infrastructure works will replace the two damaged docks with larger docks. The new docks will be capable of handling and servicing the largest ships in the world, said the Prime Minister. 
• Once the expansion is completed, the shipyard will be the largest civilian shipyard in the Americas. Prime Minister Minnis said the new investment will result in a notable increase in employment and economic activity on Grand Bahama and for local businesses throughout Freeport and the rest of the island

(Source: Office of the Bahamian PM)