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Old May 15th, 2013, 07:27 PM   #41
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Billion-dollar power plant proposed for Bahamas

Published on May 15, 2013

By Scieska Adderley
Nassau Guardian Business Reporter

NASSAU, Bahamas -- Developers behind the proposed multibillion-dollar Blackwood Point Resort and Marina are looking to build a power plant in East Grand Bahama as part of their plans.

Following meetings with Prime Minister Perry Christie, representatives from the Bahamas Investment Authority (BIA), The Plaza Hotel and luxury hospitality company Cipriani, and other key project stakeholders in the project in New York City last week, Kenneth Russell, a project executive confirmed to Guardian Business plans to build a $1 billion power station.

“We did talk about our proposal for the power station we intend to build. I believe the government thought it was very interesting that we’re proposing a power plant in East Grand Bahama. The station is worth $1 billion,” he shared.

“We went to meet with the prime minister, the Bahamas Investment Authority along with one of our Chinese partners, our partner from the Plaza in New York, the health and wellness hotel partners, along with our architects.”

“We met in New York to discuss a few things with the government. I thought it went very well. They answered all of our questions. We presented the BIA with the original documents showing that we have approval of certain funding.”
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Old May 16th, 2013, 10:36 PM   #42
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Bahamas' Fdi Inflows Drop 'By Over 50%'

As of Thursday, May 16, 2013

By NEIL HARTNELL

#Tribune Business Editor

#[email protected]

#The Bahamas saw 2012 foreign direct investment (FDI) inflows drop by more than 50 per cent to $595 million, a top private sector executive describing this as “a sobering reminder” of the competition for global capital.

#The United Nations Economic Commission for Latin America and the Caribbean (ECLAC), in its annual report on FDI trends in the region, also estimated that around four Bahamian jobs are created with each $1 million invested.

#And, while the reported 2012 fall-off in FDI inflows to the Bahamas may look bad, this nation is likely to have been up against tough year-over-year comparatives.

#With the $2.6 billion Baha Mar development in full swing, the $211 million Bahamas Telecommunications Company (BTC) privatisation and $1 billion-plus acquisition of BORCO made 2011 something of a ‘banner year’ for Bahamian-related FDI inflows, hitting $1.2-$1.3 billion.

#Still, the ECLAC report said: “The Bahamas received $595 million in FDI in 2012, less than half the level of the previous year.”

#Comparing this nation to Barbados, given the tourism-dependent characteristics of their economies, the ECLAC report added: “Both these economies are highly dependent on tourism, which has been badly affected by the economic crisis since 2009.
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