Friday, February 16, 2018

Bahamas Government Approves Plans For Oil Refinery And Storage Facility

Prime Minister of The Bahamas, Dr. Hubert Minnis

NASSAU, Bahamas (CMC):

Prime Minister Dr Hubert Minnis says his government has approved Oban Energies to commence an oil refinery and oil storage facility in Grand Bahama.

The project is expected to create 600 direct jobs, 1,000 indirect jobs during construction and an estimated project cost of over US$4 billion.

“My Government has recently completed negotiating the Heads of Agreement which paves the way for the commencement of this important project,” said Minnis in Parliament on Wednesday. “This Heads of Agreement articulates how this development can proceed.”

The Prime Minister said the Heads of Agreement will be signed on Monday, and that over the following two weeks, two additional Heads of Agreements will be signed.

“We are on the road to revitalising both Grand Bahama and the entire Bahamas.”  Read more >>