The Bahamas Agricultural and Industrial Corporation (BAIC) has commissioned two studies that will focus on the country's potential to enter the sand export market and those results are expected to be released by year's end.

Its Executive Chairman Arnold Forbes confirmed to Guardian Business yesterday that two separate studies, one U.S.-based and the other Cuban-based, will be conducted in the coming months in areas where sand is already being mined in small amounts and areas that are known have large sand deposits.

With The Bahamas reportedly having the world's largest sand reserve, Forbes stressed that beaches in northern Florida and along the eastern coast of the U.S. are in "desperate" need of sand.

"The goal is to bring another dimension to our economy. We have commissioned two studies that will hopefully be ready by December 19, which will coincide with the grand opening of BAIC's headquarters," he said.

"If we want to finish this study in time, we can't target every island, but we can target a number of areas. We do mine sand off our banks now but not at the scale that we are looking at. We are going to choose certain areas in The Bahamas where mining is being carried out and where there are huge deposits of sand untouched presently in The Bahamas."

Forbes believes it could generate millions of dollars in revenue for the Bahamian economy, if the studies prove that the sand deposits have the ability to replenish.

"It will not get us out of debt but it will contribute towards our economic growth, because we will have the ability to sell a natural resource that's in The Bahamas. But I do believe that we can make millions of dollars every year," according to the executive chairman.

"We don't want to damage our environment by taking the sand and not knowing whether it will replenish itself. So if the study proves that it will not replenish itself over time, I do not think it will be a viable project for The Bahamas to get into. But if we found out that it does, we will consider doing this in an eco-friendly manner.

"So we are looking at whether we can use this in a commercial venture to supply them with sand, and if we can sell it to them."

The two studies, which are expected to be completed by December 19 - in time for BAIC's headquarters opening - will be conducted by a group of professors out of the U.S. and a marine scientist out of Cuba. While speaking at the corporation's groundbreaking ceremony for its new head office building back in July, Prime Minister Perry Christie urged BAIC officials to investigate the potential for a major sand export market.

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