MSC Cruises joins forces with Carnival Corporation and Royal Caribbean Group as strategic partner in Grand Bahama Shipyard, helping to enhance the operational capacity of the yard and expand its technical capabilities.
The new partnership is considered a major milestone for the Grand Bahama as the expanded operations at the shipyard will inject millions of dollars into the economy through increased employment and spin-off opportunities for local suppliers, surrounding businesses, and communities, according to a statement from the ministry for Grand Bahama.
With billions of dollars in investments underway on the island across multiple sectors, MSC Cruises’ entry into the Grand Bahama Shipyard joint venture marks another significant milestone for Grand Bahama, in the midst of the ongoing $665M transformation of the facility.
Specific terms of the investment were not announced, but the Minister for Grand Bahama, Ginger Moxey, announced the deal on July 1, mentioning that the Grand Bahama economy is an attractive investment destination and hub of opportunities.
“There has been significant interest in Grand Bahama in recent months, and more is to come from MSC Cruises and other global investors,” stated Ginger Moxey, minister for Grand Bahama. “This is a pivotal moment for our island. As the transformation continues, we are witnessing the reawakening of Grand Bahama as a preferred destination for large-scale investment, job creation, entrepreneurial opportunities, and sustained economic development.”
This expanded partnership aims to solidify the Shipyard as a world-class cruise and commercial vessel repair hub, the ministry for Grand Bahama said in its release.
