By Nassau Guardian From Caribbean News Now

NASSAU, Bahamas — Bahamas Prime Minister Perry Christie announced during the 2016/2017 Budget Communication in the House of Assembly on Wednesday that an agreement to remobilize the construction and completion of the multi-billion dollar Baha Mar Resort has been reached and work is expected to resume soon.

Christie said the Export-Import Bank of China has agreed to finance the project with China Construction America (CCA), a subsidiary of China State Construction Engineering Company (CSCEC), completing the project, which has long sat in receivership.

He did not disclose any timelines for resumption of construction or how much it would cost to complete the project, but he said the details should become apparent in the near future.

Christie said the agreement was reached over two days of meetings in Beijing, China.

Attorney General Allyson Maynard Gibson and Sir Baltron Bethel, represented the government’s interests in the negotiations, Christie said.

There was no mention of developer Sarkis Izmirlian during the prime minister’s presentation.

“The Baha Mar matter is of significance to the Bahamas and the government of the Bahamas. The government has never deviated from our position that Bahamian contractors must benefit from the project. Nothing will distract the government from providing jobs and opportunities for the Bahamian people,” Christie said.

Christie added, a first round of bids for buyers interested in purchasing the mega-development is complete and there are a number of “reputable” investors involved.

The prime minister did not disclose any names of reportedly interested buyers.

He also assured local contractors that the government will fight for them to be re-engaged and that consideration is being given to settling the debts owed to Bahamian creditors.

Christie, responding to reports that the Chinese government made a number of requests, including 500 Bahamian citizenships for its citizens in exchange for the investment, told House members the government is not in the business of selling citizenships and it simply does not arise.

He also noted that the government could not legally give any investor anything outside the scope of what the Atlantis Resort has received.

IMAGE: The unfinished Baha Mar resort on New Providence in The Bahamas

For more on this story go to: http://www.caribbeannewsnow.com/headline-Chinese-agree-to-complete-Bahamas-megaresort-30518.html