Despite the rumors, Deloitte & Touche remains mum on a final agreement with China Construction America (CCA) to restart construction at Baha Mar. Nonetheless, Prime Minister Perry Christie said on Wednesday during the budget debate that "very active decisions" are currently being made with respect to the Baha Mar construction site.
Yesterday, Guardian Business contacted Deloitte & Touche Managing Partner Raymond Winder, who declined to comment at the time. Winder said that hopefully he may be able to speak on the matter in less than two weeks.
Last Month, Christie announced that the Export-Import Bank of China (EXIM) and China State Construction and Engineering Corporation (CSCEC) had entered into a "framework agreement" to remobilize construction to complete Baha Mar. However, Christie did not provide specifics on the exact timeline of the project.
"Negotiations between CCA Bahamas and the receivers appointed by EXIM are underway to agree to appropriate terms for construction to recommence and to prepare a construction agreement, which will provide the scheduled timeline for completion of the project," said Christie.
Meanwhile, rumors have surfaced this week that CCA has started to hire foreign subcontractors, and that work is expected to restart on the stalled $3.5 billion Baha Mar project as early as next week. Although those rumors could not be confirmed, Christie said, "We wouldn't have to look long to see activity."
Christie went on to say that he does not control that aspect. "It is a matter between the banks, the receiver's managers and the court," said Christie.
"But because we are the Ministry of Finance and the Office of the Prime Minister, we are observing and persuading the acceleration and energization of the construction site and it's in progress," he added.
In a joint statement, which Christie read during his 2016/2017 budget communication in the House of Assembly, EXIM Bank and CSCEC said, "The arrangement provides for a framework for putting in place the financing required for completion of the projects and for CSCEC's indirect subsidiary, CCA Bahamas to remobilize and restart construction to finish the project as expeditiously as possible."
Xian Smith, Guardian Business Reporter
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