Airport releases MOU with CCC over redevelopment

| 09/08/2011

(CNS): Following the premier’s announcement that the Cayman Islands Airports Authority had signed a memorandum of understanding with the Canadian Commercial Corporation to begin talks over the redevelopment of local airports, the authority has now released the document. Asked by the opposition last week when the document would become public McKeeva Bush said he didn’t know as he hadn’t signed it but expected it would become public when the authority was ready. However, the airport confirmed the release of the document on its website yesterday. The four page MOU is a basic agreement between the two parties “designed to foster discussions” about the redevelopment of Owen Roberts and Gerard Smith airports “under a concession model.”

CCC is owned by the Canadian government and was established to find commercial opportunities for Canadian companies with the backing of the state to give comfort to overseas partners. The hope is that the CCC will be able to recruit the necessary expertise and financiers in Canada to complete the much needed upgrades to the airports using local labour.

The MOU is for exclusive talks for up to six months but does not constitute any kind of binding agreement the document says.

With no money in government’s coffers to redevelop Owen Roberts in particular and a pressing need to extend the runway to open Cayman to European markets government is seeking a public private partnership to develop the airport at no cost to the treasury.

Although government had been expected to announce that it was partnering with Beijing based developers China Harbour Engineering Company, the premier made the surprise announcement in the Legislative Assembly last week that an MOU had been signed with CCC.

See MOU here or attached below
 

Category: Local News

Comments (9)

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  1. Anonymous says:

    great sell out every thing we own. get a loan fix your own airport. jim bodden did it thats a real herio.

  2. Anonymous says:

    I hope the Government would consider giving something to Arch and Godfrey construction too after all they did construct the airport and it has stood the test of time.

  3. Anonymous says:

    Where is the UK in all this? I guess they giving our legislators some more rope to hang themselves because if they come out of this one without a lawsuit that would be a miracle.

  4. Anonymous says:

    When is the Central Tenders Committee going to be involved in this – rhetorical question, we know they won't be until it is a done deal, or a semi-done deal, just like the Decco port agreement. Comments Governor Sir?

  5. Anonymous says:

    WHY WHY WHY did the previous Chairman of the CIAA resign so soon?

  6. truth says:

    I hope the CCC realizes that doing business with Bush is risky, and has the potential to ruin its reputation with the rest of the world.  Of course if they are as smart as Tom Jones or the screwed over port deal company they can make money without doing the work.

    • Anonymous says:

      This is the only match that Bush will have remember Matrix? the government got stuck big time with that deal and not to mention the Tom Jones deal and I could go on and on but I better not or this won't be posted.

  7. Anonymous says:

    Canadians? Hope it's not those guys from the Matrix deal.

     

    Auditor General, check out this procurement process bobo – you might be able to earn your paycheck in one day with the alternate savings that could be realized in this scheme.

     

    BTW Mr. Premier, who will be the local contractors to benefit from some of this work?

  8. Anonymous says:

    I'm not holding my breath for this. I'm surprised there's not more "flounder" on the menu in Cayman.