'Higher impact' than anticipated from first Baha Mar contracts

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December 16, 2010

By NEIL HARTNELL

Tribune Business Editor

The $15 million worth of Commercial Village construction contracts issued last week by Baha Mar will have a "significantly higher trickle down impact" on the Bahamian economy than anticipated, particularly for local building materials suppliers, because they do not stipulate the use of Chinese-sourced materials.

Confirming that the four contracts handed out for the initial stage of the $2.6 billion project's construction were standard "build and install" packages, not covered by Hotels Encouragement Act tax incentives, Stephen Wrinkle, the Bahamian Contractors Association's (BCA) president, explained that this freed up the cont ...

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News date : 12/16/2010    Category : Tribune Stories

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