NASSAU, Bahamas, CMC – The Bahamas government has signed an expanded heads of agreement (HOA) with MSC Cruises SA, approving a US$100 million expansion plan for Ocean Cay that builds on an existing investment of US$400 million.
The authorities said the project is slated for completion in 2024 and will be undertaken in two phases.
The expansion project entails a new marine conservation center specializing in coral research, upgraded facilities, amenities, accommodations, and infrastructure, as well as creation of a solar farm and a sustainable, biophilic landscaping plan.
“My government has fully embraced the development of our Family Islands,” Prime Minister Phill Davis said during the HOA signing ceremony in Bimini on Monday.
“Whether through capital infrastructure projects, partnerships, or in support of private sector investments like this one, we are committed to developing and growing the economy of every island in our archipelago.”
Davis said that the expansion signals strong investor confidence, adding that “this project represents the kind of corporate responsibility effort and environmental stewardship we want to see from all major developmental projects moving forward.”
The government says the Ocean Cay project is the latest of numerous developments slated for the Family Islands. It aligns well with its energy transition agenda and philosophy of inclusive development.
“Our ‘Blueprint for Change’ – which sets out our policies for a flourishing Bahamian future – has a plan for every population center, and we are committed to unlocking the potential of all our people, in all our islands,” said Prime Minister Davis.
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