05/15/2019 | Press release | Distributed by Public on 05/15/2019 10:59
Published 15th May 2019, 11:48am
Premier Hon. Alden McLaughlin announced today that the Cayman Islands Government has received a formal financial commitment from MSC Cruises to provide funding toward the costs of constructing the cruise berthing facility.
MSC Cruises is the fourth cruise line company to financially commit to the cruise berthing project, along with Royal Caribbean, Carnival and Disney.
Mr. McLaughlin affirmed that having four cruise lines signed on to the cruise berthing project provides tremendous benefit to the Cayman Islands.
'These agreements, coupled with the finance to be provided by whichever entity is eventually selected as the preferred bidder on the project, ensure that no public funding will be required to build the cruise berths and enhanced cargo facility,' he said.
'As well as strengthening the project's financing structure, having cruise companies financially vested in the project provides assurance that the Country's finances will not be exposed to risk and is a positive indication of their commitment to our Islands for decades to come. It is a win-win situation for the country, the preferred bidder and the cruise lines,' he said
Minister for Tourism Hon. Moses Kirkconnell said he is very pleased that MSC Cruises has signed on to support the development of the Cayman Islands cruise berthing facility.
'This agreement represents the accomplishment of another key milestone in the lifecycle of this project. MSC operates more than 1,000 routes globally and is one of the fastest growing cruise companies in the world. Their commitment to the Cayman Islands will help to sustain and grow our cruise tourism industry into the future,' said Mr. Kirkconnell.
The Cruise Berthing Facility Project is now in its sixth year and has undergone a rigorous procurement process to identify a preferred bidder to construct the berthing facility within a design, build, finance and maintain framework. The Port Authority of the Cayman Islands will continue to own, operate and manage the facility as it does today.
To stay informed on all of the latest news and information on the cruise berthing project the public is encouraged to visit the cruise berthing facility website at http://www.SupportOurTourism.com and to check the project's facebook page for daily updates.