The Eleutheran - Eleuthera News, Sport and much more from Eleuthera: Chinese Govt Approves Baha Mar Project

Chinese Govt Approves Baha Mar Project
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admin on 27 July, 2010 
 
(Nassau, Bahamas ) It was announced by the Cabinet Office today that formal
approval has been given by the Government of the People’s Republic of China,
for various agencies  of the Chinese Government to enter into a joint venture
with Baha Mar  Ltd.  for the redevelopment of Cable Beach.
Following an extended hiatus, Baha Mar Ld. officials had announced in March that
it had penned a multl-billion dollar deal with the Export-Import Bank of China
to help move the project ahead.
The release from the Cabinet Office today said that the news of the Chinese
Government's approval was relayed by His Excellency Dingxian Hu, the Ambassador 
of the PRC.
Prime Minister  Hubert Ingraham is slated to meet with the Ambassador after his
return to the country on August 18th, to formally  receive the approval.