Barbados is one step closer to getting multi-million dollar investment to expand the Grantley Adams International Airport.
The island’s representatives are deep in discussion with partners in Dubai and Chile for a public-private partnership (PPP) deal which could see the expansion of the facility, a luxury hotel and hemispheric cargo hub.
The final deal is not yet inked by the potential partners but Grantley Adams International Airport Inc. and the office of His Highness Sheikh Ahmed Dalmook Al Maktoum of Dubai and Agencias Universales SA of Chile, have signed a memorandum of understanding.
It will guide a new PPP for the investment, development and operation of the airport.
Some of the positive benefits of the deal include expanded airlift and additional luxury hotel capacity.
Chair of the Negotiating Committee Professor Avinash Persaud spoke with CBC News about the MOU.
He says Barbados is keen to find more and better employment opportunities for its people in the international transport sector.
Professor Persaud says there’s no need to fear the PPP because it is not an airport sale nor will current tenants be disadvantaged.
The transaction, if completed in 90 days, will be an investment of $300 million Barbados dollars which will maintain crrent standards.
Meanwhile, His Highness Sheikh Ahmed Dalmook Al Maktoum says they are very pleased to collaborate with the Government of Barbados on this project and are looking forward to positively contributing to the economy of Barbados by creating jobs, improving airport infrastructure and facilities and promoting tourism in the country.
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