Cruise port terms agreed

A memorandum of understanding that
may pave the way to create a new cruise ship berthing facility in George Town
has been agreed and is now awaiting Cabinet approval.

Stefan Baraud, chairman of the Cayman
Islands Port Authority, and Cameron Graham, CEO of Dart Enterprises
Construction Company, known as DECCO, confirmed that the terms of the agreement
had been finalised.

The document must now be vetted and
approved by Cabinet, which met Tuesday, before it can be signed by the parties

“The MOU has been agreed,” Mr.
Baraud said on Monday evening. “We’re just waiting for its presentation to
Cabinet before we move ahead with the signing.”

If Cabinet approves the MOU, an
announcement and signing of the agreement will follow, he added.

In November, Cabinet approved DECCO
as the potential development partner to finance, design and build the proposed
cruise berthing facility and cargo enhancement project.

Premier McKeeva Bush announced at
the time that the Port Authority would develop a non–binding memorandum of understanding
with DECCO and the Florida–Caribbean Cruise Association.

Since then, negotiations have been continuing
to determine the terms of the agreement.

Auditor General Dan Duguay said he
was also aware the MOU was expected to go to Cabinet Tuesday.

“The Port Authority has been
keeping us up to date with developments, which they agreed to do,” he said. “We
haven’t seen it, but we’re aware of it.”

Mr. Duguay said his office may or
may not be interested in looking into the MOU, depending on the terms.  He
said if it were an agreement similar to what the last government signed with
Atlantic Star, which basically did not bind either party to act, his office
probably will not get involved at this time.

“Our office would be more
interested when there’s a binding agreement,” he said.