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Chinese Govt Approves Baha Mar Project
Baha Mar Resort, Cable Beach Bahamas - artistic representation
(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.
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JAMES' CISTERN PRIMARY SCHOOL
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31 January, 2012
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