Tuesday, November 5, 2019

D’Aguilar: Government will collect around $3.5M annually from GPH

Nassau cruise port

The government is expected to collect a minimum of $2.5 million per year from Global Port Holdings (GPH) for its leasing of the Port of Nassau once construction is complete, according to the heads of agreement (HOA) that was tabled in the House of Assembly on Tuesday.

The annual lease charge will be calculated on the basis of $0.50 per passenger movement plus value-added tax (VAT) and no less than $2 million during the construction period, increasing to $2.5 million once the construction phase is complete.

GPH is eyeing the first quarter of 2020 to break ground on the $250 million redevelopment project.  Read more >>