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Cruise Port Transformation to Go Ahead Once Condition Precedent is Satisfied

Wednesday 20th February, 2019-Global Ports management has indicated its readiness to begin the transformation process of the cruise port facilities in St. John’s and has set a timeline in which they are anticipating taking over as managers.

The government has entered into a 30-year agreement with the company, which will result in the elimination of a debt of US$21 million that the government is struggling to service. The arrangement will also ensure the completion of the dredging of St. John’s Harbour to allow for the docking of Oasis Class Cruise Ships at a fifth berth.

Global Ports Holding PLC Chairman, Mehmet Kutman was asked on Tuesday how soon they are expecting work to begin, now that the agreement was announced. In response, Kutman said that will be dependent on the government finalizing certain arrangements.

The Global Ports chairman told the media of priority, is the docking facilities.

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The company manages 19 ports across the globe and discussions are taking place in 21 other locations.

Solicitor General Martin Camacho detailed some of the conditions precedent that must be satisfied on the government’s side.

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