by Larry Smith
The anticipated buyers of Freeport recently unveiled their proposed investment strategies, which include some major energy-related projects.
British venture capitalist Roddie Fleming is in talks to buy the St George estate shareholding in the Grand Bahama Port Authority, having already reached agreement with the Hayward family trustees for their shareholding.
Under new ownership, the GBPA will operate with an advisory board that will include licensees and other stakeholders.The key initiatives that Fleming wants to advance are:
1. Further investments in Freeport Harbour, and development of a new cruise ship terminal.
2. Commercial and residential property development, including high-end villas and a limited-access gambling resort.
4. A world-class medical research and educational centre.
5. Making Grand Bahama a regional supplier of liquid natural gas and clean automobile and aviation fuels, through the development of a new refinery and LNG terminal.
8. Development of a financial services centre.
Each of these initiatives will require significant infrastructure and manpower development. A Fleming spokesman said talks are well advanced in all of these areas with a number of potential partners.
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