Premier McKeeva Bush announced Wednesday that the Cayman
Islands Airports Authority had signed a memorandum of understanding with
Canada’s official contracting agency to redevelop the airports in Grand Cayman
and Cayman Brac.
Mr. Bush said the agreement with the Canadian Commercial
Corporation to redevelop Owen Roberts International Airport in Grand Cayman and
the Gerrard Smith International Airport in Cayman Brac was non-binding.
The Corporation has been granted the exclusive right, for
six months beginning Monday, August 1, to carry out due diligence and develop a
proposal for the construction and concession agreements for the redevelopment
of the two airports, he said.
“As part of this MOU, the Corporation will utilise the
services of Canadian technical companies whose financial and managerial
capabilities have been subjected to due diligence by the Canadian Government.
Caymanian companies and labour will, of course, be utilised,” the premier told
members of the Legislative Assembly during its one-day sitting Wednesday.
He said, subject to the negotiations, redevelopment of the
airports could begin in 2012.
For more on this story, read Friday’s Caymanian Compass.