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Global Ports Holding has signed a 30-year concession agreement for cruise port operations in Antigua

Global Ports Holding signs Antigua cruise operations deal

Global Ports Holding (GPH) has signed a 30-year concession agreement for exclusive cruise port operations in Antigua following the signing of a Memorandum of Understanding with the Government of Antigua and Barbuda last November.

The concession also includes certain retail outlets in the project area. This concession marks GPH’s second step in its expansion into the Americas, after the signing of Havana in 2018.

Completion of a new pier

As part of the agreement, GPH will finance the completion of the ongoing construction of a new pier which will allow the port to handle Oasis-class ships.

The Group will also invest in improving the current retail facilities and designing and financing the construction of new purpose built retail and F&B facilities.

GPH is in advanced discussions with local and international banks in relation to long term bank financing for the concession. Full financial closure and commencement of the concession is expected to occur in H1 2019.

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