For immediate release
- HOA approves $100 million expansion plan for Ocean Cay, building on an existing $400 million investment.
- Incorporates new Marine Conservation Centre, Facility Upgrades, Renewable Energy
NASSAU, The Bahamas – On Monday 20th November 2023, the Government of The Bahamas signed an expanded Heads of Agreement (HOA) with MSC Cruises SA, approving a $100 million expansion plan for Ocean Cay, which builds on an existing investment of $400 million. The project is slated for completion in 2024 and will be undertaken in two phases.
The expansion project entails a new Marine Conservation Centre specialising in coral research, upgraded facilities, amenities, accommodations, and infrastructure, a deepening of the marina, the creation of a solar farm, and a sustainable, biophilic landscaping plan, which incorporates native flora. MSC has engaged BRON Development Consultants to assist in implementing innovative environmental solutions.
“My government has fully embraced the development of our Family Islands,” stated Prime Minister Philip Davis, KC, during the HOA signing ceremony in Bimini. “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.”
The Prime Minister added that the expansion signals strong investor confidence while further asserting 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 Ocean Cay project is the latest of numerous developments slated for the Family Islands, one which aligns well with the government’s 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 centre, and we are committed to unlocking the potential of all our people, in all our islands,” said Prime Minister Davis.
For Press Inquiries:
Keishla Adderley, Press Secretary
Office of The Prime Minister
Commonwealth of The Bahamas