NASSAU, BAHAMAS —A Bahamian group called Aerodrome Limited will spearhead the redevelopment of the Grand Bahama International Airport in conjunction with two other partners, according to Deputy Prime Minister Chester Cooper.
Cooper revealed that the first phase of the $170 million redevelopment of the Grand Bahama International Airport will be completed no later than the first quarter of 2025 while addressing the Grand Bahama Business Outlook conference yesterday.
He noted that one of the critical factors in getting the Grand Lucayan sold is to have a world-class international airport that can accommodate US Pre-Clearance.
“In February, the Government of The Bahamas entered into an agreement with Aerodrome Limited, a Bahamian company; Manchester Airport Group Limited, an airport management company based in Manchester in the United Kingdom; and BHM Construction International, a company based in London,” said Cooper.
“These three companies represent a consortium that successfully bid to design, build, finance, operate, maintain and redevelop the Grand Bahama International Airport and to generate traffic to grow revenue and to further enhance Grand Bahama International Airport. This group has committed to transforming GBIA into a carbon-neutral, climate-resilient, commercially viable, world-class airport. This is a $170 million project that will begin preliminary works this month,” he outlined. Aerodrome is headed by businessman and financial analyst Anthony Ferguson, businessmen, Anthony Myers and Greg Stuart along with engineer Anthony Farrington.
Cooper explained that the airport’s redevelopment will consist of two phases which are expected to generate 1,200 construction jobs consistently over the next 5 years. “Ninety percent of these jobs are to be reserved for Bahamians and work permits will only be granted where Bahamians cannot be found in accordance with our immigration laws and policies,” he pledged.
“During construction in phase one of the new Grand Bahama International Airport, which is expected to be completed no later than April 2025, 300 construction jobs will be created, with another 50 engineering, management and accounting jobs. Phase one will consist of the domestic terminal, the US Pre-Clearance terminal, new initial taxiways and aprons, new initial roads and car parks, a flood mitigation system, a flood attenuation basin, renewable energy systems, a sea defense berm and support bridges, air freight cargo facilities.”
Phase two of the project will reportedly consist of new expanded taxiways and aprons, a new domestic parallel runway, new expanded roads and car parks, and an expanded heavy lift Air Freight Cargo center. Phase two will commence within two years of the commencement of phase one.
The construction of the Cargo Zone is pegged to commence within three years. The new business at the Cargo Zone will, according to Cooper, create approximately 50 permanent new jobs each year for a minimum of 10 years, resulting in at least 500 new jobs in Grand Bahama.
Aero will develop and finance the airport, as well as manage the project under contract with the Freeport Airport Development Company. BHMCI will be the design-builder, while Manchester Airport Group will operate the airport.
Cooper noted that Aero will enter into an agreement with Manchester Airport Group to come up with a facility and management fee structure, with net profits from the airport operations of funds will go into an Airport Infrastructure Fund.