Search results for : Nassau airport development company
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The Hon. Philip Davis, Deputy Prime Minister and Minister of Works and Urban Development underscored the Government's commitment to bring about reform of the Bahamas Electricity Corporation (BEC)...
Nassau, Bahamas --
Airport officials hope to hit a high note with passengers and Bahamian
entertainers with the introduction of a
summer performance series in the new US Departures terminal at Lynden Pindling International Airport.
week, Nassau Airport Development Company (NAD) issued an appeal to
local artists from magicians to musicians to submit profiles and demos
for consideration. Successful entertainers will be scheduled to perform
during weekends in the peak traffic season between
July 2- September 4...
The restructuring of the Bahamas Electricity Corporation (BEC) will be a mirror of what was done at the Lynden Pindling International Airport. A private management company will be selected to manage BEC, according to a predesigned business plan, with the government maintaining 100 percent ownership of the utility.
Deputy Prime Minister and Minister of Works Philip Brave Davis told Guardian Business on Wednesday that within two weeks the government will commit to a management company, and this company will have certain demands with which it must comply.
New management structure
Guardian Business understands that in the matter of a management company for what Davis called "a new BEC", three entities remain at the table. At one point, InterEnergy, China State Construction Engineering Corporation (CSCEC), PowerSecure, Caribbean Power Partners and Genting were all bidding, but it appears that only China State Construction Engineering Company, Cayman Islands-based InterEnergy and PowerSecure remain.
The move confirms earlier indications that the government had changed its intentions for restructuring BEC. Initially, the request for proposals (RFP) associated with revamping BEC was to involve breaking the corporation into separate power generation and distribution entities. Subsequent communications from the government seemed to suggest that this path was no longer the favored one, and with the discussion of a new company to manage BEC, Davis has confirmed the direction in which the government intends to go. Davis said the government has sought to identify a strong, technically capable and experienced company to manage BEC.
"This management company will have significant autonomy and operate subject to a business plan which addresses the specific objectives of government," Davis said. "We will seek to cause that business model to basically mirror that which the Nassau Airport Development Company (NAD) has for the management of the Lynden Pindling International Airport (LPIA). Like the airport deal, the government will retain 100 percent ownership of BEC."
Davis said the government would commit to a management company that can guarantee the reduction of the cost billed to the customer to an average of less than 30 cents per kilowatt hour (KwH) within 24 months from commencement of the contract.
"Given that the current all-in-cost base of BEC per KwH is close to 44 cents, with customers being billed on average 40 cents, this represents more than a 30 percent reduction. When reflected onto The Bahamas at large, this reduction will save business and residential consumers close to $200 million," he said, adding that the significant savings in fuel will reduce the strain on U.S. dollar reserves.
New Electricity Act
The management company will work to meet the government's objectives, Davis said, and must introduce best-in-class operational practices; environmental stewardship including the remediation of existing liabilities, and state-of-the-art training for its employees. All of this must be developed within a progressive legislative framework.
"My ministry is collaborating with the attorney general's office and BEC to create a new Electricity Act, which provides for new innovations at BEC, enables the energy policy and empowers the Utilities Regulation and Competition Authority (URCA) as the regulator of the sector," Davis said.
The next two years
Davis said the government, in consultation with KPMG, has defined the ways in which fuel and other costs will be reduced throughout the supply chain.
"The first path to cost reduction is through the implementation of an incentive regime for the management company. This regime prescribes a significant portion of the management company's remuneration based on achieving service level targets related to fuel efficiency, rationalization of cost and significant improvements in reliability, that is, fewer and shorter power cuts," he said.
"Effectively, the more efficiently and reliably the new BEC operates, the more the manager will get paid."
Davis said the government intends to "dramatically" change BEC's fuel mix, currently heavily weighted - too heavily, many say - towards light fuel oil.
"Existing diesel generators will be refurbished and improved, and the least efficient engines will be retired. New dual fuel generators will be installed over the first 24 months," he said. "Within that same 24 months, the management company will introduce a new base load dual fuel generation plant in New Providence, minimizing the need to use the combustion turbines."
Nassau, Bahamas - Today, Vernice Walkine (left) officially assumes the role of President & CEO at Nassau Airport Development Company (NAD). She is the first Bahamian to be appointed to this role at the airport management company formed six years ago to redevelop Lynden Pindling International Airport (LPIA).
Bahamas - Chairman of the Board of Nassau
Airport Development Company (NAD), Anthony McKinney, today announced the
appointment of Vernice Walkine to the position of President and CEO, expected
to take effect in March of 2013, and thanked outgoing CEO, Stewart Steeves, for his significant contributions
over the past six years.
was Vernice the first Bahamian executive on the team in her role as Vice
President of Marketing and Commercial Development, she is the first woman to
have the top job at our airport," said McKinney. "Vernice joined NAD two years
Nassau, Bahamas - Chairman of the Board of Nassau Airport Development Company (NAD), Anthony McKinney, today announced the appointment of Vernice Walkine to the position of President and CEO, expected to take effect in March of 2013, and thanked outgoing CEO, Stewart Steeves, for his significant contributions over the past six years.
Vancouver Airport Services delivers on its mandate to add Bahamian talent to the executive ranks Nassau, Bahamas -- NAD's President & CEO, Mr. Stewart Steeves, today announced the appointment of Mr. Kevin McDonald to the position of Vice President of Maintenance & Engineering, effective January 1st, 2012.
Major oil and gas companies are working side-by-side with contractors in the $409 million airport expansion project to clean up an oil spill that started two decades ago.
A defective fuel hydrant system installed in the early 1990s, when a new U.S. departures terminal was built, has gushed more than 50,000 gallons of oil into the ground over many years, according to Deangelo Stuart, the environmental manager at the Nassau Airport Development Company (NAD).
Spanning up to 10 acres, the massive "plume" of contaminated soil also made its way into the water table.
And now, as redevelopment marches on, oil and gas companies Esso, Chevron and Shell are spending up to $1 million on the restoration of the infected area.
"There was an underground fuel hydrant that serviced all of the aircraft on Field A. It is apparent there was a leak
that went undetected for many years," Stuart told Guardian Business.
"When it was noticed, well over 50,000 plus gallons of oil had leaked into the ground. And part of the reconstruction effort is to remediate any of the contaminants in the ground water. It involves the clean up of impacted soil and the treatment of any free soil."
NAD is currently working on stage two of the new international arrivals building. While the clean-up and construction have already been occurring in tandem, the restoration process is expected to really kick into high gear when crews move on stage three after the summer.
Verne Janzen, project director at NAD, said the oil and gas companies are all responsible for a percentage of ownership in the leaky hydrant. He said the airport is pleased that the oil and gas giants stepped up to the plate.
He added there are two sites in particular that are contaminated, including the International departures pier and apron, and an area near the U.S. departures terminal building. The project director insisted that the project has not experienced delays from the spill, although he conceded that contractors have incurred "additional costs" .
"The oil and gas companies have brought a consultant on board with a full-time representative on-site. Sometimes they have one person, sometimes there are three or four," he explained.
Two giant tanks, about 18,000 gallons each, have been installed to collect the contaminated water and soil. A filtering process then occurs, with the finished product being ultimately returned to the airport site.
Stuart told Guardian Business that the plume is contained and poses no threat to businesses or residents in the immediate area.
"We know where it is located, and we know the behavior of the plume itself. It's not shifting and we have recovered a lot of the product in the ground, and we continue to do so," he said.
A construction environmental management plan has been created to protect workers from any effects as a result of the oil spill, who will be in place for the life of the project, he said.
The $409 million redevelopment of LPIA is the largest public/private infrastructure project in the history of The Bahamas.
Phase two, the construction of the new international arrivals terminal, is now 66 percent complete, according to Janzen.
Phase one, the U.S. departures terminal, was unveiled in February 2011.
The entire project, including this phase and phase three (international and domestic departures and domestic arrivals) is scheduled to be completed by November 2013.
The new airport complex will cover 571,000 square feet with an additional one million square feet of aircraft operating space.
It is always a pleasure to address The Bahamas Business Outlook forum. It gives me an opportunity to share with you my vision for the future of The Bahamas and to provide an update on the activities of my government, particularly as they relate to economic development. You have a striking theme this year...