PM hoping to finalise airport PPP by early 2024

Negotiations for the Public Private Partnership (PPP) for the operation of the Grantley Adams International Airport (GAIA) could be complete early in the New Year, Prime Minister Mia Mottley has disclosed.

In an update to business leaders on Wednesday, she was upbeat about the progress of the $300 million deal that will pave the way for airport development, including the creation of a hemispheric hub for cargo, and expanded airlift.

“The bottom line is, is that we are deep into the discussions and Cabinet has been advised that by the end of January, we hope we can finish the negotiations. I’ve seen some plans for the airport; they are amazing and functional at the same time,” she said at the Barbados Chamber of Commerce and Industry (BCCI) business luncheon and discussion at the Lloyd Erskine Sandiford Centre.

In July this year, GAIA Inc signed a Memorandum of Understanding (MOU) with The Office of His Highness Sheikh Ahmed Dalmook Al Maktoum of Dubai and Agencias Universales S.A. of Chile for the investment arrangement.

Mottley served notice that major expansion is in line for both the island’s main ports.

Turning her focus to the Bridgetown Port, Mottley disclosed that Cabinet last week decided to have the enfranchisement of the workers and the National Insurance and Social Security Service (NISSS) in the new holding company for the Bridgetown Port.

Concerning the port’s expansion, she said the time had come for the country to think outside the box and focus on exploiting the advantages of Barbados’ geographical location.

“Barbados is more in line with Panama than even Jamaica or The Bahamas. You have to go north to Jamaica and north to The Bahamas and Barbados is not only in line with Panama, Barbados is the closest then to also making sure that we reach Africa, which is going to be the largest market.

“If we want to reposition this country, now is the time for us to do it with the investments that we make in the airport and the seaport to be that logistics hub that literally will compensate for our lack of population.”

The prime minister said there would be opportunities for the private sector to invest as the island makes the transition to a logistical hub. (SD)