The government, the Port Authority
and the Dart Enterprises Construction Company have signed a memorandum of understanding
to move ahead with the planning and construction of a cruise berth dock in
Premier McKeeva Bush said the dock
was slated to cost $150 million and to be completed by October 2012.
Mr. Bush, along with chairman of
the Port Authority Stefan Baraud, chief executive officer of DECCO Cameron
Graham, and member of the Legislative Assembly and tourism councillor Cline
Glidden, signed the agreement at a press conference on Thursday morning.
Ownership of the port will be
retained by the Port Authority.
“While the cruise berthing project
will be developed by DECCO and paid for by fees charged to the cruise lines
that use the facility, the government and Port Authority are committed to
protecting the existing revenue flows to the Port Authority,” Mr. Bush said.
“Consequently, measures are in
place to ensure that the Port Authority will retain full effective ownership
and control of the port’s lands, piers and operations,” he added.
The premier said the berthing
facility was a vital component in keeping Cayman’s tourism industry alive and
Read much more about this story in Friday’s Caymanian Compass…