The Grand Bahama Shipyard has announced that it is embarking on a $600 million transformation, marking a substantial investment in the Grand Bahamian economy.
The shipyard, together with shareholders Royal Caribbean Group and Carnival Corporation, recently received government approval to proceed with an expansion project that is estimated to bring billions of dollars in economic impact to Grand Bahama’s economy.
The investment is intended to help the shipyard regain its position as the largest cruise ship repair facility in the world. The price tag of $600 million includes the construction, delivery to Freeport, and commissioning of two world-class floating docks that will allow the shipyard to service the entire range of cruise ships in operation and under construction, as well as much of the world’s commercial shipping fleet.
Prime Minister Philip Davis hailed the expansion project as “a new and promising chapter in the story of Grand Bahama.”