Bahamas PM says stalled mega-resort to be finished and sold
NASSAU, Bahamas (AP) — The prime minister of the Bahamas says his government has reached an agreement that will lead to the completion of a stalled mega-resort financed and built by the Chinese government.
Prime Minister Perry Christie says China Construction will resume work on the Baha Mar project in September with financing from the Export-Import Bank of China. He says the huge resort complex will be finished by the end of the 2016-2017 winter season and sold to a “world-class hotel and casino operator”.
The prime minister made the announcement in an address to the nation late Monday after the Supreme Court approved the agreement.
Baha Mar is a $3.5 billion project that was initially scheduled to open in December 2014 on Cable Beach in Nassau. After a series of delays the developer filed for bankruptcy.
