Davis highlighted that the $72 million from the US EXIM Bank marks their largest commitment to a CARICOM-based project to date. “This substantial investment underscores the anticipated success of this venture. Once fully operational, it will generate 80 jobs and drive economic activity through partnerships with local businesses providing inspection, maintenance, hospitality services, and other sectors poised to benefit,” said Davis.
He noted that the Liwathon South Riding Point Terminal project is among several strategic initiatives underway in Grand Bahama. “From the historic Health Campus in Freeport to the Afro-Caribbean marketplace replacing the former international bazaar, significant efforts are ongoing. However, the full revitalization of Grand Bahama post-Hurricane Dorian requires sustained commitment,” Davis added.
Davis acknowledged the environmental challenges, referencing the millions of gallons of oil spilled during Dorian from the previous terminal, which heavily impacted the local ecosystem. “Even eighteen months later, significant oil residue persists, undermining local ecosystems and services. This crisis compounded the effects of a historic natural disaster, diverting resources from other critical needs,” Davis emphasized.
“In an era of climate emergencies, small island states like ours must carefully balance economic opportunities involving industries like oil with our environmental stewardship,” Davis stated. He highlighted Liwathon’s strong safety record globally and its commitment to meeting local standards for the South Riding Point project.
“Moving forward, we will uphold rigorous safety and environmental standards across all projects, ensuring sustainable growth and diversification,” Davis affirmed. “The reopening of this terminal marks a symbolic step towards a rejuvenated Grand Bahama,” he concluded.
