Global Ports Holding to Invest USD 250 Mn in Nassau Cruise Port
- Business & Finance
Cruise port operator Global Ports Holding has started operations at Nassau Cruise Port, revealing an investment of USD 250 million into capacity expansion.
The company started cruise port operations at Prince George Wharf Cruise Port in Nassau, the largest cruise port in GPH’s portfolio, on October 9, 2019.
Subsequently, GPH and its partner, Bahamian Investment Fund, revealed their plans to invest in port expansion, as well as take “a number of innovative steps to transform the cruise port and down town experience for both passengers and the local population.”
The construction phase is expected to start in the fourth quarter of 2019 and is anticipated to be completed within 24 months. Once construction has been completed total revenues are expected to be in the range of USD 35-40 million per annum, the company noted.
“The GPH team very much look forward to working with our partners, the cruise lines and the people of the Bahamas to transform both the cruise port and downtown Nassau for the benefit of all stakeholders,” Mehmet Kutman, Global Ports Holding, Chairman and Co-Founder, said.