Bermuda to build a new airport-redevelopment
By Jonathan Bell
Bermuda’s “new airport” has been signed into being with a redevelopment agreement between Government and the Canadian Commercial Corporation, Finance Minister Bob Richards announced this morning.
The Island will get a roughly new $200 million terminal building, with the expectation of “hundreds” of construction jobs generated.
At a press conference in the Cabinet Office, the Finance Minister hailed the redevelopment plan as “one of the most important capital projects ever undertaken on our island shores”, after signing the agreement with CCC’s Luc Alari.
Groundbreaking could commence as early as next year, with the project potentially taking three years to complete. The project will play “a crucial role in the renaissance of the Bermuda economy”, Mr Richards said, under a public-private partnership with CCC.
Pledging “value for money”, Mr Alari said CCC “also brings a lot of transparency and governance — we are a Canadian Government organisation; this is something we adhere to”.
“This public private partnership between the Bermuda Government and the Canadian Commercial Corporation does indeed represent a renaissance for Bermuda — to our economy and to our product. I know that we can all agree that the success of this project will be legendary.”
Construction is expected to take 3 years, in a new location that Mr Richards said would be “between the roundabout and Stonecrusher Corner”.
Mr Richards added that the redevelopment would require no initial expenditure by Bermuda — and that the project would be financially self-sustaining.
CCC will select a Canadian developer. Title to the airport and adjacent lands will remain with the Bermuda Government.
Video: New Airport Announcement
L.F. Wade International Airport