NASSAU, Bahamas, CMC – The Bahamas government says China has “given formal approval” to enter into a joint venture 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 the government “that his Government has given formal approval for various agencies of the Chinese Government to enter into a joint venture with Baha Mar Ltd. for the redevelopment of Cable Beach”.
The statement said that the diplomat, who is due to return here on August 18, will meet with Prime Minister Hubert Ingraham “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 two billion (US) dollar mega project included the construction of a 3,000 room hotel, a 50-foot circular waterfall and 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 creating 11,000 jobs, including 6,000 permanent positions.
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