Prime Minister and Minister of Finance, the Hon. Philip Davis says Cabinet has approved Royal Caribbean International’s Paradise Island Project.
Davis told reporters, “we approved the project to ensure that Bahamian participation is maximized, the Bahamian opportunities are maximized. From the timeline that was given they intend to start breaking ground almost immediately. It hopefully will be started because part of the challenges we have in the country today is what we call attractions for tourism. On any given day we could have up to 30,000 tourists in our port and there has to be attractions for them. This will be one of the other attractions that will be available to them.”
The project is valued at $110 million and once complete will included watersports, Bahamian entertainment and shops. The opportunity to acquire equity in the project will also be made available to Bahamians.