Bermuda to build a new airport-redevelopment

February 19, 2016

Uncategorized

Bermuda to build a new airport-redevelopment

By Jonathan Bell
Royal Gazette

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
L.F. Wade International Airport

L.F. Wade International Airport

About Dilemma X

Dilemma X, LLC provides research dedicated to the progression of economic development. Our services aid clients in enhancing overall production statistics. Please visit http://www.dilemma-x.com for more information

View all posts by Dilemma X

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: