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Bahamas Government in payout negotiations with developers of stalled Baha Mar Resort

An official from the Bahamas government has revealed that the country is in negotiations with China Export-Import Bank to pay $21 million that is reportedly owed to the developers of the Baha Mar resort. The money is said to be required for road construction for the mega resort, the opening of which has been stalled and is causing problems for holidaymakers who have already booked vacations.

Bahamas Government in payout negotiations with developers of stalled Baha Mar Resort

A government official from the Bahamas has said that negotiations are currently in place to pay $21 million that is reportedly owed to the developers of the Baha Mar resort.

The opening of the $3.5 billion mega resort in the Bahamas has been stalled and developers say the government needs the money for road construction associated with the resort.

The government source says that the money will be paid "if Baha Mar can reach an agreement with China Export-Import Bank," the company that is financing the resort's construction.

Earlier this week, Philip "Brave" Davis, the Deputy Prime Minister of the Bahamas said that negotiations involving funds the government owes Baha Mar for the development of West Bay Street are being handled by Perry Christie, the country's prime minister.

Christie said he had received "encouraging" news about a possible resolution to the Baha Mar deadlock, which is said to be in reference to the proposed government payment. The funds will also be used to pay "thousands of Bahamians currently on the resort's payroll".

Many disgruntled holidaymakers have been making complaints to tour operators and travel agents about their invalid bookings at the Baha Mar resort in 2015.

The multi-billion-dollar complex in Cable Beach, Nassau in the Bahamas was due to open at the end of 2014, but it was pushed back until 27th March, 2015. The resort later announced that the opening would be delayed until early May because contractors have no completed the work, but the opening was stalled once again.

Located on the picturesque New Providence Island in the Bahamas, the resort will provide luxury holidays for sophisticated travellers.

The complex will feature a 50,000 square-foot retail village with high end shops and local Bahamian arts and crafts, restaurants and entertainment venues; a 20-acre Eco Water Park with a pool experience, and three luxury spas, including the largest spa in the Caribbean; an 18-hole Jack Nicklaus Signature Course; the largest convention centre in the Bahamas with 200,000 square-feet of space that will be used both for business and as an entertainment and sports arena; and a 100,000 square-foot casino which will be the largest gaming complex in the Caribbean.

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