The Bahamas has announced that it has signed a deal with Disney Island Development Ltd. Minister Hubert Minnis said the deal was for a new cruise port and an entertainment outfit to be located in South Eleuthera. An estimated $250 million to $400 million will be spent on the project.
Disney has already completed the acquisition of a property located in Lighthouse Point, Bannerman Town. It purchased the property from a private seller. The company has pledged to hand over 190acres of the land purchased to the Bahamian government. The donated land will be used as a national conservation park. The donated land is valued at $6.29 million.
The Heads of Agreement prescribes that Disney Cruise Line has in its employ at least 120 Bahamians during the construction phase of the project. The company has pledged to provide up to 150 permanent jobs for Bahamian workers when the construction is over. The jobs will come with health benefits among other benefits. The agreement also dictates that Bahamian vendors be allowed to sell their merchandise on the property.
The Prime Minister has said construction will begin after the Environmental Impact Assessment Plan is approved. He went on to say that the Heads of Agreement will be presented to the National Assembly at their next sitting on Tuesday.