China to help Bahamas tourism
Published:Wednesday | July 28, 2010 | 1:10 PM
The Bahamian government says it has entered into a joint venture with China to build a multi-billion dollar mega-tourist resort that had previously been put on hold.
A brief government statement said that China’s ambassador to the Bahamas, Dingxian Hu, had advised that his Government has given formal approval for various Chinese state agencies to enter into a joint venture with Baha Mar Limited for the redevelopment of Cable Beach.
The statement said the diplomat will meet with Prime Minister Hubert Ingraham next month to formally receive the approval of the Chinese Government.
The ambitious complex had come to a halt more than two years ago when US casino operator Harrah's Entertainment pulled out.
Initial plans for the US$2 billion mega project includes the construction of a 3,000 room hotel, a 50-foot circular waterfall, an 18-hole Jack Nicklaus championship golf course and 200,000 square feet of meeting space.
The developers had said that the project would have resulted in the creation of 11,000 jobs, including 6,000 permanent positions.